Political Quotes

“I urge my colleagues to join me in supporting the nomination of Michael Barr to be a member of the Board of Governors of the Federal Reserve System and the Vice Chair for Supervision. His confirmation is expected today, but we hold votes on these things to find out for sure. His confirmation will mean that the Federal Reserve, for the first time in years, will have a complement of all seven members. I credit the Biden administration for being aggressive in doing that. I credit the committee, which I chair. The Acting President pro tempore is a prominent member of that committee, Senator Warren, and I thank her for her work on this. It is a big deal. Mr. Barr is a qualified nominee who came out of the Banking, Housing, and Urban Affairs Committee with strong bipartisan support. Five Republicans, including Ranking Member Toomey, and all 12 Democrats supported his nomination. It is clear why. He is a leading expert with decades of experience in helping to guide and protect our economy, including having experience with financial institutions and financial regulation. He has served this country at the Departments of Treasury and State as well as at the White House. At the Treasury Department, as Assistant Secretary for Financial Institutions, Mr. Barr played a critical role in responding to the 2008 financial crisis when Wall Street greed and recklessness crashed our economy.…”