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McHenry Statement on Nomination of Michael Barr as Fed’s Vice Chair for Supervision

Washington, Apr 15 -

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after President Biden announced his intent to nominate Michael Barr as Vice Chair for Supervision at the Federal Reserve:

“Michael Barr’s nomination comes after several failed attempts by President Biden to install left-wing financial regulators in some of our most important institutions,” said Republican Leader McHenry. “Mr. Barr may be less extreme than previous financial nominees, but this does not change the fact that Democrats are using the regulatory process to pursue their radical agenda because they don’t have the votes in Congress. I am optimistic that Mr. Barr’s experience with financial technology and embrace of innovation signals a departure from these troubling trends. Republicans will remain vigilant of any attempts to use our financial system to push a progressive social agenda.”

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