Biden’s Fed nominee Raskin imperiled by key Democrat’s opposition

By Reuters Posted on March 14, 2022

FILE PHOTO: U.S. Senate Banking Committee holds hearing for Federal Reserve nominees on Capitol Hill in Washington

FILE PHOTO: Sarah Bloom Raskin, nominated to be vice chair for supervision and a member of the Federal Reserve Board of Governors, gestures during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022. REUTERS/Ken Cedeno/Pool/File Photo

Sarah Bloom Raskin’s 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 key senator from President Joe Biden’s party.

Raskin’s “previous public statements have failed to satisfactorily address my concerns about the critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs,” Senator Joe Manchin, a moderate Democrat from West Virginia, said in a statement.