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Exclusive – U.S. Republican Senator Toomey expects Barr to be confirmed to Fed

Republican U.S. Senator Pat Toomey said Monday it is likely Michael Barr will be confirmed as the Federal Reserve’s Wall Street cop, although he has not yet decided on whether to support the nomination. Asked by Reuters on the sidelines of the World Economic Forum in Davos, Switzerland, about Barr’s prospects for confirmation, Toomey, the ranking member of the Senate Banking Committee, said: “I think it does look like he’s likely to be confirmed.” The comments from Toomey, who led an effort to sink President Joe Biden’s first nomination for the post, Sarah Bloom Raskin, are significant because it suggests Republicans will not mount a similar effort to challenge the nomination of Barr, who was a senior Treasury Department official under President Barack Obama.