US Senate confirms Barr as Fed vice-chair
Democrat appointees now form majority of board of governors
The US Senate confirmed Michael Barr to a four-year term as the Federal Reserve’s vice-chair for supervision on July 13, and separately appointed him as a member of the board of governors for a term ending in 2032. This is the first time since 2013 the board of governors has had no vacancies.
The Senate approved Barr’s nomination to both offices by a 66–28 margin. Opposition senators cast all 28 no votes, but some of their colleagues voted for confirmation.
In a statement, US president Joe
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