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BIDEN TO NOMINATE MICHAEL BARR AS TOP FED BANKING REGULATOR


IF CONFIRMED, FORMER OBAMA TREASURY OFFICIAL WOULD OVERSEE THE LARGEST U.S.
FINANCIAL FIRMS

The Treasury Yield Curve Can Reliably Predict Recessions. Here’s Why.
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The Treasury Yield Curve Can Reliably Predict Recessions. Here’s Why.Play video:
The Treasury Yield Curve Can Reliably Predict Recessions. Here’s Why.

An inversion of the U.S. Treasury yield curve has been seen as a recession
warning sign for decades, and it looks like it’s about to light up again. WSJ’s
Dion Rabouin explains why an inverted yield curve can be so reliable in
predicting recession and why market watchers are talking about it now.
Illustration: Ryan Trefes
By
Andrew Restuccia ,
Andrew Duehren and
Paul Kiernan
Updated April 15, 2022 7:04 pm ET

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WASHINGTON—President Biden will nominate Michael Barr, a former Treasury
Department official, to serve as the Federal Reserve’s top banking regulator,
the White House said, after Mr. Biden’s first pick for the job withdrew in the
face of opposition from Republicans and a key Democratic senator.

If confirmed, Mr. Barr would serve as the Fed’s vice chairman for supervision,
charged with overseeing the largest U.S. financial firms including JPMorgan
Chase & Co., Bank of America Corp. and Citigroup Inc. A key architect of the
2010 Dodd-Frank postcrisis financial regulatory overhaul and the Consumer
Financial Protection Bureau, Mr. Barr would likely bring close scrutiny to bank
mergers and rules for lending in low-income neighborhoods.

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