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Michael Barr

Vice Chair for Supervision, Federal Reserve Board Of Governors

Search every verified Michael Barr interview, podcast appearance, and on-the-record quote β€” each transcript cross-checked by AI and human review to confirm speaker identity. Michael Barr, Vice Chair for Supervision at the Federal Reserve Board of Governors, delivered a speech on July 14, 2026, at the Next-Gen Financial Inclusion conference focusing on artificial intelligence and its potential effects on inequality. Barr described scenarios in which AI could either empower lower- and middle-income workers or exacerbate inequality by eliminating jobs and concentrating wealth among a small number of firms and investors. He stated that it is unclear whether AI will reduce or increase income and wealth inequality, but said that society can begin making choices now regarding AI policy, education, job training, competition, and tax policy to affect that outcome. At the 2026 CDBA Peer Forum on May 28, 2026, Barr discussed regulatory and economic issues. He said that deregulatory efforts so far have benefited the largest banks, providing $65 billion in capital relief that has gone into share buybacks and higher executive compensation. Barr stated that he strongly supported the 2023 Community Reinvestment Act rule, which he described as a "terrific advancement." He also commented on inflation, saying the Federal Reserve has a job to get inflation back to 2% and that it will take time to work through economic shocks. Barr noted that long-term inflation expectations are well anchored, while shorter-term expectations are elevated, and said he is watching to see whether those come back down or go in the wrong direction. He added that the current interest rate level is likely to stay for quite some time, but that there is a risk rates might need to rise if inflation extends more broadly into the economy.

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