Warren Statement on the President’s Nominee for Fed’s Vice Chair for Supervision
Washington, D.C. – United States Senator Elizabeth Warren (D-Mass.), a member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement following Michael Barr’s nomination to be Vice Chair for Supervision of the Federal Reserve:
“The Fed’s Vice Chair for Supervision is a powerfully important financial regulator, responsible for holding the biggest banks accountable and preventing the next financial crisis — and this position should have been filled months ago without political delay. During the Obama administration, Michael Barr was a key force in the creation of the Consumer Financial Protection Bureau, and I intend to support President Biden’s nominee for this important role at the Fed. Moving forward, the Federal Reserve must rebuild public trust after the gravest ethics scandal in Fed history and safeguard our economy as families confront higher prices and corporate profits skyrocket.”
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