The U.S. Senate has voted to confirm Michael Barr as the vice chairman of supervision at the Federal Reserve, one of the most important financial regulatory roles in the country, amid rising interest rates and the worst inflation in four decades.
The Senate on Wednesday morning voted 66–28 to approve Barr, a former Obama administration official, as a member of the Federal Reserve’s Board of Governors.
Later in the day, the chamber separately voted 66–28 to confirm his four-year term as the Federal Reserve’s vice chairman of supervision—the point person related to bank regulation. More than a dozen Republicans joined Democrats in supporting Barr’s confirmation….