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Showing Original Post only (View all)Manchin comes out against Biden Fed nominee Raskin, throwing her confirmation into doubt [View all]
Source: CNBC
Sen. Joe Manchin, the most conservative Democrat in the Senate, said Monday that he opposes one of President Joe Bidens nominees to the Federal Reserve, leaving her candidacy to join the central bank with the slimmest of hopes.
I have carefully reviewed Sarah Bloom Raskins qualifications and previous public statements. Her 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 nations critical energy needs, Manchin said in a statement.
I have come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board, he added. Raskin is a former Fed governor and served as the deputy Treasury secretary in the Obama administration.
Manchins formal opposition all but dooms Raskins bid to be the Feds next vice chair for supervision, one of the most powerful banking regulators in the world. While its possible Raskin could garner support from a moderate Republican, a Senate split 50-50 means anything but a unified Democratic party makes the odds of success for any presidential nominee perilous at best.
Read more: https://www.cnbc.com/2022/03/14/joe-manchin-opposes-sarah-bloom-raskin-federal-reserve-nomination.html