By Dan Burns

DAVOS (Reuters), – Republican U.S. Pat Toomey, Senator of Pennsylvania said Monday that Michael Barr would likely be confirmed to the Federal Reserve’s Wall Street officer. However, he is yet to decide whether to support this nomination.

When Reuters asked Toomey about Barr’s chances of confirmation at the World Economic Forum in Davos (Switzerland), Toomey replied: “It does seem like he will be confirmed.

Toomey’s comments, which were part of an attempt to defeat President Joe Biden’s first nominee for the post, Sarah Bloom Raskin (pictured above), are important because they suggest that Republicans won’t mount another effort to block Barr’s nomination. Barr was previously a top Treasury Department official under President Barack Obama.

Barr gave evidence to the Banking panel as part of his efforts to become the Fed’s new vice chair for supervision. This would allow him to oversee the largest banks in the United States. Toomey was skeptical, but there wasn’t much evidence that Republicans had launched a coordinated campaign to force Raskin out.

Toomey indicated that he plans to visit Barr again in future and decide how he will vote about his nomination.