8/16/2023 0 Comments Sarah bloom raskin joe manchinIn his statement, Biden said Raskin "was subject to baseless attacks from industry and conservative interest groups." He urged the Senate Banking Committee to "move swiftly" to confirm the four remaining nominees for the Fed board. This article originally misstated that Joe Manchin holds a seat on the Senate Banking Committee. They also questioned her role as director of a fintech firm that received a Federal Reserve master trust account. The main threat the right has identified, then, is that Sarah Bloom Raskin might actually do her job. The Republicans questioned whether Raskin's views on climate change would make it harder for fossil fuel companies to get financing. In her letter to President Biden, she said the Republicans on the Senate Banking Committee "held hostage" her nomination and stalled the votes for four other central bank nominations - Jerome Powell for his second term as Fed chair, Lael Brainard for the post of Fed vice chair, and Lisa Cook and Philip Jefferson as governors. "That experience and support are among the reason why I nominated Sarah to be the Vice Chair for Supervisions, a critical role in regulating our nation's financial institutions," he said. Sarah Bloom Raskin of Maryland withdrew her nomination to the Federal Reserve Board on Tuesday, the day after a key coal-state Democrat announced he would vote against her due to her views on climate change. Joe Manchin (D-WV) announced that he had come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board. Sarah Bloom Raskin, President Joe Bidens choice for the top banking regulator at the Fed, already faced a steep uphill battle for confirmation. Without Manchin, Democrats have little chance of confirming Raskin to the central bank. On March 15, 2022, she withdrew her nomination due to opposition from Republican senators and Democratic senator Joe Manchin. Treasury and had previously served as a Fed governor, had broad support from the banking and financial services community, President Biden said in a statement. The GOP has already blocked Raskins nomination from moving out of committee deliberations. With the Senate split 50-50 and Manchin refusing to support her, Raskin's chances of being confirmed vanished. Joe Manchin (D-WV) said he couldn't support her nomination, and ends a month-long scuffle with Republicans over her views on climate policy. Sarah Bloom Raskin, who President Joe Biden nominated as Federal Reserve vice chair for supervision, has withdrawn her candidacy for the post that supervises banks, CNBC reports, citing a person familiar with the matter. Sarah Bloom Raskin withdraws nomination to Fed board Raskin’s path was all but doomed after Republicans on the Senate Banking Committee boycotted her confirmation vote and Sen.
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