Sarah Bloom Raskin has withdrawn as President Joe Biden’s nominee to be the Federal Reserve’s top Wall Street watchdog, according to a person familiar with the decision.
Raskin, whom Biden tapped to be the Fed’s vice chair for supervision, has been stuck in the Senate Banking Committee amid a GOP boycott of a committee vote on her nomination, effectively blocking her confirmation from advancing to the Senate floor.
Sen. Joe Manchin (D-W.Va.) and moderate Republicans Susan Collins and Lisa Murkowski said Monday they would not support Raskin’s nomination, imperiling her chances of confirmation.
Raskin, a former Fed governor and deputy Treasury secretary during the Obama administration, has been confirmed twice by the Senate before with unanimous support from Republicans. But she faced blowback this time from GOP lawmakers and Manchin over her calls for regulators to more closely scrutinize bank lending to oil and gas companies and help mitigate climate-related risks to the financial system.
Fonte: POLITICO
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