Manchin announces opposition to Biden Fed pick Raskin, imperiling her nomination
by Zachary Halaschak, Economics Reporter |
| March 14, 2022 12:19 PM
Sen. Joe Manchin said he will not vote to confirm Sarah Bloom Raskin to a top Federal Reserve role, likely killing her nomination.
The West Virginia centrist Democrat announced his opposition in a Monday news release. He cited the importance of the Fed in fighting inflation and past remarks Raskin has made that are skeptical of fossil fuels in his decision to oppose her nomination.
Raskin, whom President Joe Biden nominated to be the Fed’s vice chairwoman of supervision, has faced intense scrutiny from Republican members of the Senate Banking Committee. Republicans contend that Raskin would use the Fed improperly to combat climate change. They say she has advocated having the Fed allocate capital and choke off credit to disfavored industries, such as oil and gas, although Raskin pushed back on that assertion during her confirmation hearing.
In an article published last September, Raskin suggested that financial regulators need to "reimagine their own role so that they can play their part in the broader reimagining of the economy."
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https://www.washingtonexaminer.com/policy/economy/manchin-announces-opposition-to-biden-fed-pick-raskin-imperiling-her-nomination
