Raskin’s withdrawal is another obstacle in the Biden Administration’s efforts to appoint leaders at the three federal bank regulatory agencies.
#SARAH BLOOM RASKIN FULL#
The Committee acted later on Wednesday, and the four other Fed nominees (along with an FHFA nominee) held up by the boycott of the vote by Committee Republicans will now move to a vote by the full Senate. The Senate Banking Committee did not take long to give the four other Fed nominees that up-or-down vote. President Biden again praised that past experience, but noted “nfortunately, Senate Republicans are more focused on amplifying these false claims and protecting special interests than taking important steps toward addressing inflation and lowering costs for the American people.” President Biden went on and urges the Senate Banking Committee “to move swiftly to confirm the four eminently qualified nominees for the Board of Governors − Jerome Powell, Lael Brainard, Philip Jefferson, and Lisa Cook − who are still waiting for an up-or-down vote.” Raskin for her willingness to serve again after previously serving as a Federal Reserve Governor and a Deputy Secretary of the Treasury. President Biden issued a statement thanking Ms. Joe Manchin (D-WV) announced that he had “come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board.” By not attending Committee meetings, the Senate Banking Committee lacked the necessary quorum to vote on the nominations.
Raskin’s nomination, along with four other Fed nominees, by Republicans on the Senate Banking Committee. The withdrawal follows the boycott of Ms. Earlier this week, Sarah Bloom Raskin withdrew her nomination to be Vice Chair of Supervision and a Governor at the Federal Reserve Board.
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