2 post, and economists Lisa Cook and Philip Jefferson for positions on the board. Sarah Bloom Raskins nomination to become the top bank regulator at the Federal Reserve, already stalled by Republicans, was dealt a heavy blow on Monday after she lost the backing of a senator. Joe Manchin says hes opposed to the nomination of Sarah Bloom Raskin for a top regulatory post at the Federal Reserve, likely spelling defeat for her confirmation in the closely divided Senate. Senate Committee on Banking, Housing, and Urban Affairs (the Committee) considered President Biden’s nomination of Sarah Bloom Raskin for Vice Chair for. She has earned widespread support in the face of an unprecedented, baseless campaign led by oil and gas companies that sought to tarnish her distinguished career. Sarah Bloom Raskin, nominee to be vice chairman for supervision and a member of the Federal Reserve Board of Governors, speaks before a Senate Banking, Housing and Urban Affairs Committee. The president has also nominated Lael Brainard, a Fed governor, for the central bank's No. Sarah Bloom Raskin is one of the most qualified people to have ever been nominated for the Federal Reserve Board of Governors, the spokesperson said. Raskin submitted her withdrawal in a letter to President Joe Biden. Biden has nominated Chair Jerome Powell to serve a second four-year term Powell is now serving as acting chair. Sarah Bloom Raskin has withdrawn from consideration to be a nominee for the Federal Reserve Board of Governors.
Bloom Raskin's nomination with bipartisan support." Raskin was confirmed unanimously by the Senate the first time she was nominated to be a Fed governor.įour other Biden nominees to the Fed's board are also on hold because of the committee Republicans' boycott of a vote on Raskin. Sherrod Brown, an Ohio Democrat and chairman of the Banking Committee, said that Brown is "working to move forward Ms. "We are working to line up the bipartisan support that she deserves, so that she can be confirmed by the Senate for this important position," said the official, who wasn't authorized to speak on the record.Ī spokesperson for Sen. She previously served on the board from 2010-2014 and as deputy Treasury secretary.
Bill Clark/POOL/AFP via Getty Images Fed Chairman. House of Representatives, which includes Carroll, Montgomery and Frederick counties.A White House official said the administration still supports Raskin, calling her "one of the most qualified people to have ever been nominated" for the Fed's board. Jamie Raskin, withdrew her nomination to serve on the Federal Reserve Board on March 15, 2022. Her nomination failed and most of the media reported that the reason her nomination failed was because Republicans in the Senate, along with West Virginia Senator Joe Manchin, felt that. She was approved unanimously by the Senate to both positions.īloom’s husband, Jamie Raskin, represents Maryland’s 8th District in the U.S. Raskin previously served as Fed governor from 2010 through 2014 and then as the deputy Treasury secretary. Alan Blinder defends Sarah Bloom Raskin’s nomination for the Federal Reserve’s vice chair of supervision (Sarah Bloom Raskin Belongs at the Fed, March 3). “Sadly, the American people will be denied a thoughtful, experienced public servant who was ready to fight inflation, stand up to Wall Street and corporate special interests, and protect our economy from foreign cyberattacks and climate change,” Brown said. CNN Sarah Bloom Raskin has withdrawn from consideration to be a nominee for the Federal Reserve Board of Governors. 2 post, and economists Lisa Cook and Philip Jefferson for positions on the board. The president has also nominated Lael Brainard, a Fed governor, for the central bank’s No. WASHINGTONSarah Bloom Raskin, President Biden’s pick to become the Fed’s top banking regulator, could face a contentious nomination process due to her support for tougher banking rules and. Biden has nominated Powell, who is now serving as acting chair, to a second four-year term. Sherrod Brown, the Ohio Democrat who is chairman of the Banking Committee, said the panel would vote on Biden’s four other nominees for the Fed, who were also delayed by the Republicans’ boycott. Sarah Bloom Raskin, nominated to be vice chairman for supervision and a member of the Federal Reserve Board of Governors, is sworn in before a Senate Banking, Housing and Urban Affairs. 3, 2022 Sarah Bloom Raskin’s past statements on climate regulation are stoking heated Republican opposition to her nomination to be the Federal Reserve’s vice chair for supervision and.
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