President Biden to nominate former Ripple adviser as Fed Vice-Chair for Supervision - BitcoinEthereumNews.com
US President Joe Biden intends to nominate Michael Barr, who served as a Ripple advisor from 2015 to 2017, as the Vice-Chair for Supervision of the Federal Reserve. The White House revealed this news yesterday through an official statement. The position has been vacant since Governor Randal Quarles term ended in October 2021. Apart from his time at Ripple, Barr served as the Treasury Departments Assistant Secretary for Financial Institutions in the Obama administration, where he helped formulate the Dodd-Frank Act. He also taught courses on financial regulation at the University of Michigan. Additionally, Barr served the National Economic Council in the White House. Ayon sa to the White House, the Biden administration has created over 8 million jobs thus far. This means that millions of families now have a basic form of income. However, pagpintog has proved a big challenge for many families as consumer prices continue rising. Explaining why it is vital to fill the Fed Vice-Chair for Supervision position, the White House said the Federal Reserve plays a massive role in fighting inflation. However, the Fed Board is currently not full. The White House added Barr is a good fit because he has the prerequisite expertise and experience. A bipartisan role Biden