The nomination of Michael Barr, President Joe Biden's choice to be the top regulator on the Federal Reserve's Board of Governors, was approved Wednesday by a congressional committee and sent to the full Senate.
Barr, who served as a top Treasury Department official in the Obama administration, is considered likely to be confirmed by the Senate. A confirmation vote would make him the third of Biden's nominees to join the Fed's board and would further solidify the president's stamp on the central bank. It would also fill the last of seven seats on the board just as the Fed is grappling with the worst inflation spike in four decades.
