Fed Vice Chair Michael Barr: Making the financial system safer and fairer

Michael S. Barr, who took office as the Federal Reserve Board’s vice chair for supervision on July 19, spoke about making the financial system safer and fairer at the Hutchins Center on Fiscal & Monetary Policy at the Brookings Institution at 2:00 PM EDT on Wednesday, September 7. Following his remarks, he was interviewed by David Wessel, director of the Hutchins Center, and then took questions from the audience. The event was open to the public, both in person and streaming live online.

The post of vice chair for supervision was created by the Dodd-Frank Act to oversee the Fed’s supervision and regulation of banks and other financial companies. Barr was confirmed by the Senate by a vote of 66-28 for a four-year term as vice chair and a term as a Fed governor that runs through 2032. Prior to joining the Fed, Barr was the dean of the Gerald R. Ford School of Public Policy at the University of Michigan. He was assistant Treasury secretary for financial institutions in the Obama administration and served in the Treasury, State Department, and White House during the Clinton administration. Barr clerked for U.S. Supreme Court Justice David H. Souter and Judge Pierre N. Leval of the Southern District of New York. Barr received a B.A. in history from Yale University, an MPhil in international relations from Oxford University, where he was a Rhodes Scholar, and a JD from Yale Law School. He is the author of “No Slack: The Financial Lives of Low-Income Americans” and co-author of “Financial Regulation: Law and Policy.”

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