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President Biden Picks Former Ripple Adviser as Fed vice-Chair for Supervision


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President Joe Biden has announced his intention to nominate former Obama administration official and Ripple adviser, Professor Michael Barr, as the Fed vice-Chair for supervision, following the withdrawal of former Federal Reserve Board Governor Sarah Bloom Raskin.

In an announcement on Friday, the White House said Barr was Biden’s pick to supervise the Federal Reserve and set the regulatory agenda for its leadership.

Between 2015 and 2017, Barr was a Ripple adviser. He also served as the Treasury Department’s assistant secretary for financial institutions during Barak Obama’s administration and taught courses on financial regulation at the University of Michigan.

According to the White House, Barr was a key architect of the Dodd-Frank Act, the legislation that continues to influence financial policy in the United States, which was one of the reasons he was considered for the vacant position.

President Joe Biden noted:

“Barr has strong support from across the political spectrum — and has been confirmed by the Senate on a bipartisan basis. He understands that this job is not a partisan one, but one that plays a critical role in regulating our nation’s financial institutions to ensure Americans are treated fairly and to protect the stability of our economy.”


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I think it's a good idea to bring such a man into the position, especially since he has had tangents with the University of Michigan. Still from this post https://paperap.com/free-papers/black-lives-matter/ I understand that we need to get in charge people who are professors, they very well understand psychology and more to all know how to behave with people. I think it's a good idea because black lives matter is a pretty intense topic in the US.



Edited by Asherscoutt
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