Senator Stabenow Statement on Michael Barr Nomination to Serve as Vice Chair for Supervision of the Federal Reserve

WASHINGTON—Senator Debbie Stabenow released the following statement on President Biden’s nomination of Michael Barr to serve as Vice Chair for Supervision of the Federal Reserve. Mr. Barr currently serves as dean of the University of Michigan’s Gerald R. Ford School of Public Policy.

“Michael Barr is uniquely suited to be the Vice Chair for Supervision at the Federal Reserve. During his time at the U.S. Treasury and throughout his career, Mr. Barr focused on building an economy that works for everyone and worked extensively to prevent a future financial crisis. As the Vice Chair for Supervision, I know he will continue this great work and ensure that we have a stable economy. Both his thoughtfulness and extensive knowledge make him a great fit for this role. I look forward to supporting his confirmation.”

Michael S. Barr is currently the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy, the Frank Murphy Collegiate Professor of Public Policy, the Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, and the founder and faculty director of the University of Michigan's Center on Finance, Law & Policy. At the Law School, Barr taught Financial Regulation and International Finance, and co-founded the International Transactions Clinic and the Detroit Neighborhood Entrepreneurs Project.

Barr served in the Obama Administration as the U.S. Department of the Treasury's assistant secretary for financial institutions, and was a key architect of the Dodd-Frank Act. He also served the National Economic Council in the White House. In the Clinton Administration, Barr served as Treasury Secretary Robert E. Rubin's special assistant, as deputy assistant secretary of the Treasury, as special adviser to President Clinton, and as a special adviser and counselor on the policy planning staff at the U.S. Department of State.

###