Biden’s Fed nominee Raskin withdraws

By Reuters Posted on March 15, 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 chairman for supervision and a member of the Federal Reserve Board of Governors, looks on 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 on Tuesday withdrew as President Joe Biden’s nominee to become the top bank regulator at the Federal Reserve, a source familiar with her decision said, one day after a key Democratic senator and moderate Republicans said they would not back her, leaving no path to confirmation by the full Senate

The New Yorker magazine first reported that Raskin had submitted a letter of withdrawal to the White House, in which she cited “relentless attacks by special interests” in her decision to step aside.

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