{"id":432948,"date":"2022-04-15T19:16:47","date_gmt":"2022-04-15T16:16:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/joe-biden-taps-michael-barr-for-feds-top-regulation-post\/"},"modified":"2022-04-15T19:16:47","modified_gmt":"2022-04-15T16:16:47","slug":"joe-biden-taps-michael-barr-for-feds-top-regulation-post","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/joe-biden-taps-michael-barr-for-feds-top-regulation-post\/","title":{"rendered":"#Joe Biden taps Michael Barr for Fed\u2019s top regulation post"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af214b87404c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af214b87404c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/joe-biden-taps-michael-barr-for-feds-top-regulation-post\/#%E2%80%9CJoe_Biden_taps_Michael_Barr_for_Feds_top_regulation_post%E2%80%9D\" >&#8220;Joe Biden taps Michael Barr for Fed\u2019s top regulation post&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CJoe_Biden_taps_Michael_Barr_for_Feds_top_regulation_post%E2%80%9D\"><\/span>&#8220;Joe Biden taps Michael Barr for Fed\u2019s top regulation post&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>President Biden said Friday he plans to nominate Michael Barr, the dean of the University of Michigan\u2019s public policy school, to be the Federal Reserve\u2019s vice chairman of supervision.<\/p>\n<p>The selection of Barr comes after Biden\u2019s first choice for the Fed post, Sarah Bloom Raskin,\u00a0withdrew her nomination\u00a0a month ago in the face of opposition from Republicans and one Democrat: Sen. Joe Manchin\u00a0of West Virginia. Raskin\u2019s critics had argued she would <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly the Fed\u2019s regulatory authority to\u00a0climate change\u00a0and possibly discourage banks from lending to energy companies.<\/p>\n<p>But with Barr, Biden noted the importance of politics in a Friday statement that said his nominee had previously cleared the Senate on a bipartisan basis.<\/p>\n<p>\u201cMichael brings the expertise and experience necessary for this important position at a critical time for our economy and families across the country,\u201d Biden said.<\/p>\n<p>The Democratic president said Barr \u201chas spent his career protecting consumers, and during his time at Treasury, played a critical role in creating both the Consumer Financial Protection Bureau and the position for which I am nominating him.\u201d<\/p>\n<p>Barr is the dean of Michigan\u2019s Gerald R. Ford School of Public Policy. He was an assistant Treasury secretary for financial institutions during the Obama administration who helped design\u00a0the 2010 Dodd-Frank regulations\u00a0after the devastating 2008 financial crisis.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Biden-Fed-barr.jpg?w=1024\" alt=\"President Joe Biden \" class=\"wp-image-21917182\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Biden-Fed-barr.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Biden-Fed-barr.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/Biden-Fed-barr.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>President Biden said Barr \u201chas spent his career protecting consumers.\u201d<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Barr, a Rhodes Scholar who clerked for Justice David Souter on the Supreme Court, also served during the Clinton administration at the White House, the Treasury Department and the State Department.<\/p>\n<p>Despite those credentials, some liberal critics last year blocked Barr\u2019s candidacy to become the Biden administration\u2019s\u00a0comptroller of the currency, a position that is responsible for regulating national banks. These critics viewed with suspicion Barr\u2019s role on the advisory boards of the financial firms Lending Club and Ripple Labs. They also asserted that he had helped dilute proposals for stricter bank regulations during the Obama administration.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>But Ohio Sen. Sherrod Brown, the Democratic chairman of the Banking Committee, voiced full support for Barr.<\/p>\n<p>\u201cMichael Barr understands the importance of this role at this critical time in our economic recovery,\u201d Brown said. \u201cI strongly urge my Republican colleagues to abandon their old playbook of personal attacks and demagoguery and put Americans and their pocketbooks first.\u201d<\/p>\n<p>Others offer strong praise for Barr and say he appears well suited for the Fed position.<\/p>\n<p>David Dworkin, president of the National Housing Conference, which advocates for affordable housing, suggested that Barr\u2019s understanding of Wall Street gives him the right mix of \u201ccentrist expertise and progressive policy views\u201d to win confirmation in a closely divided Senate.<\/p>\n<p>Barr would be joining the Fed at an especially challenging and high-risk period for the central bank and the economy.<\/p>\n<p>The Fed is set to raise interest rates aggressively in the coming months to try to reduce persistently high inflation. Yet it will be extraordinarily difficult for Fed Chair Jerome Powell \u2014 who is awaiting Senate confirmation for a second term \u2014 to slow inflation by raising borrowing costs without also weakening the economy and perhaps even causing a recession.<\/p>\n<p>\u201cThis is about landing a very complicated plane on the runway smoothly,\u201d Dworkin said. \u201cIt\u2019s very hard to do.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/15\/joe-biden-taps-michael-barr-for-feds-top-regulation-post\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Joe Biden taps Michael Barr for Fed\u2019s top regulation post&#8221; President Biden said Friday he plans to nominate Michael Barr, the dean of the University of Michigan\u2019s public policy school, to be the Federal Reserve\u2019s vice chairman of supervision. The selection of Barr comes after Biden\u2019s first choice for the Fed post, Sarah Bloom Raskin,\u00a0withdrew&#8230;<\/p>\n","protected":false},"author":1,"featured_media":432949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/fed-michael-barr.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128047,70550,991,70360],"class_list":["post-432948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-15-22","tag-federal-reserve","tag-joe-biden","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=432948"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432948\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/432949"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=432948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=432948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=432948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}