© Reuters. FILE PHOTO: The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation in Washington, U.S., January 26, 2022. REUTERS/Joshua Roberts/File Photo
WASHINGTON (Reuters) – The U.S. Senate Banking Committee voted on Wednesday to advance the nomination of Michael Barr to serve as the Federal Reserve’s top regulatory official.
By a vote of 17 to 7, the panel agreed to send his nomination to the full Senate. If confirmed as vice chair for supervision, Barr would be in charge of the Fed’s bank oversight.
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