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Fed Nominee Michael Barr Has Pressed to Reverse Trump-Era Banking Policies
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WASHINGTON—Former Treasury Department official Michael Barr is expected to pursue tougher oversight of the financial system and reverse some Trump-era policies if he wins confirmation as the Federal Reserve’s top bank regulator.
Mr. Barr, who worked in the Obama administration, is scheduled to face the Senate Banking Committee in a confirmation hearing Thursday, a hurdle to a four-year term as Fed vice chairman for supervision. If confirmed by the Senate, he would become the most influential U.S. financial regulator and have a voice on monetary policy.
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