Vice Chair for Supervision, Federal Reserve Board Of Governors
Search every verified Michael Barr interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Michael S. Barr, Vice Chair for Supervision at the Federal Reserve Board of Governors, delivered speeches and participated in a fireside chat in February and July 2026 on the potential economic and social effects of artificial intelligence (AI). In his remarks, Barr discussed scenarios where AI could either empower lower- and middle-income workers by boosting productivity or exacerbate inequality by eliminating certain jobs while concentrating gains among higher-income individuals and large firms. He noted that AI's reliance on data, computing power, and model improvements could reinforce market concentration, potentially allowing a small number of "hyperscaler" firms to dominate, and he cited a 2025 paper by Anten Coronk and High Vipra on this dynamic. Barr emphasized that the future impact of AI on inequality is uncertain and would depend on policy choices in areas such as education, job training, competition, and tax policy. He stated that generative AI could help overcome inequality and promote financial inclusion, but only if pursued with intentionality and purpose. In the fireside chat, he also cautioned that without strong guardrails, AI could reinforce societal biases and worsen credit access outcomes for low-income individuals. Barr referenced his 2012 book "No Slack" and the concept of scarcity to illustrate the financial challenges faced by low-income Americans.
Gubernur Federal Reserve, Michael S. Barr, dalam pidatonya mengenai kecerdasan buatan (AI) di New York Association for Business Economics pada Februari 2026 dan konferensi Next-Gen Financial Inclusion pada Juli 2026, menyoroti dampak AI terhadap pasar tenaga kerja, kesenjangan ekonomi, serta kebijakan suku bunga bank sentral.
At the Next-Gen Financial Inclusion conference: https://www.federalreserve.gov/confer... The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy; promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the…
At the Next-Gen Financial Inclusion conference: https://www.federalreserve.gov/confer... The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy; promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the…
As the financial services data ecosystem evolves, so do the stakes for consumers. Federal Reserve Governor Michael Barr delivers a keynote at EMERGE Financial Health 2026 tracing the evolution of financial health, making the case for why measurement is the critical bridge between financial access and genuine financial well-being. Barr shares that AI, behavioral science, and better data are creating a historic opportunity to close the wealth gap. #FinancialHealthMetrics #ConsumerFinance #FederalReserve #EMERGE26 #FinancialWellness #AIBanking #BehavioralScience #FinancialInclusion #MichaelBarr
Michael S. Barr has been a member of the Board of Governors of the Federal Reserve System since 2022, and was its vice chair for supervision between 2022 and early 2025. Before joining the board he was the Joan and Sanford Weill Dean of the Gerald R. Ford School of Public Policy, the Frank Murphy Collegiate Professor of Public Policy, the Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, and the founder and faculty director of the University of Michigan's Center on Finance, Law & Policy. At the University of Michigan Law School, he taught financial…
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At the Strengthening America's Economy through Rural Investment: A Working Forum: https://www.federalreserve.gov/confer... Transcript (PDF): https://www.federalreserve.gov/newsev... The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy; promotes the stability of the financial system and…
Market Catalysts anchor Julie Hyman breaks down the latest market news for January 15, 2026. Federal Reserve Governor Michael Barr speaks with Yahoo Finance Senior Fed Reporter Jennifer Schonberger about the DOJ's Powell probe, inflation, Fed independence, and what a new Fed chair would mean for the central bank. Ford CEO Jim Farley spoke with Yahoo Finance Senior Autos Reporter Pras Subramanian from the 2026 Detroit Autos Show to address a variety of topics, including the "critical" points of the United States-Mexico-Canada Agreement (USMCA), the Big Three automaker's refreshed perspective on…
Federal Reserve Chair Jerome Powell is being investigated by the US Department of Justice over his testimony on renovations to the Fed's headquarters in Washington DC. It comes as the Fed faces a tough balance between keeping inflation in check and the labor market strong. In a wide-ranging interview with Yahoo Finance Senior Fed Reporter Jennifer Schonberger, Federal Reserve Governor Michael Barr weighs in on the Powell probe, shares his outlook for inflation, and what a new Fed chair would mean for the central bank. To watch more expert insights and analysis on the latest market action, che…
The heads of the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency testify ...
At the 2025 National College Fed Challenge: https://www.federalreserve.gov/conferences/fedchallenge.htm Transcript (PDF): ...
“The policy challenge is therefore not simply to observe the development and deployment of AI, but also as a society to consider policies related to AI and its effects on education, job training, and workforce development, competition, tax policy, and other areas that may allow the gains from AI to be shared across workers, households, and communities rather than accruing to a small group of firms and investors.”
“AI has the potential to transform lives and the US economy, possibly empowering workers to be more productive with lower and middle income workers perhaps benefiting the most. But it is also the case that AI may instead exacerbate inequality, eliminating some lower and middle income jobs while boosting the income and wealth of higher income individuals.”
“It is possible that generative AI can help overcome inequality in our society and help promote financial inclusion, but only if we decide to do that with intentionality and purpose.”
“AI, if there aren't really good guard rails, might reinforce the biases that we already have in our society and result in worse outcomes in terms of credit access. So that's a second area that you know we would really need clear guard rails before you'd want a financial institution to use AI in credit decision-making.”
“It is unclear whether AI will reduce or increase income and wealth inequality. But society can begin making choices now that can affect that outcome. Decisions on AI policy, education, worker training, and workforce development, competition, tax policy, and other areas will help determine this outcome. But future inequality will depend not only on what AI can do, but also on what we choose to do with AI.”
“The policy challenge is therefore not simply to observe the development and deployment of AI, but also as a society to consider policies related to AI and its effects on education, job training, and workforce development, competition, tax policy, and other areas that may allow the gains from AI to be shared across workers, households, and communities rather than accruing to a small group of firms and investors.”
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