Statement on Senate Confirmation of Michael S. Barr as Vice Chair for Supervision of the Federal Reserve System Board of Governors

The Federal Reserve plays the primary role in fighting inflation and regulating financial institutions. Today's confirmation of Michael Barr as Vice Chair for Supervision of the Federal Reserve is important progress for my plan to tackle inflation and for sound oversight as we transition to steady and stable growth. The Senate has now confirmed my full slate of nominees, a historic and experienced group that includes Jerome Powell, Dr. Lael Brainard, Dr. Lisa Cook, and Dr. Philip Jefferson. They bring the skill and knowledge needed at this critical time for our economy and families across the country to fight inflation, to ensure ordinary Americans get a fair shake, and to protect the stability of our economy.