8/18/2023 0 Comments Sarah bloom raskin joe manchinRaskin served as Maryland’s top banking regulator from 2007 to 2010 and had been endorsed by banking representatives in the state.Īssociated Press Writer Josh Boak contributed to this story. Manchin’s criticism comes on the heels of his opposition to Sarah Bloom Raskin, President Joe Biden’s one-time pick to lead the Federal Reserve’s Wall Street oversight. But the opposition to her came mainly from the energy industry, while many banking lobbyists saw her as at least a known quantity. Raskin was considered likely to take a much tougher line with banks than did Randal Quarles, a Trump appointee who previously held the position of vice chair for supervision. “We do not see how Raskin can be confirmed without the support of Joe Manchin as we expect every Republican will oppose her nomination,” said Jaret Seiberg, a banking analyst at Cowen Washington Research Group. Some analysts said Manchin’s opposition could doom Raskin’s nomination. Sarah Bloom Raskin withdraws nomination to Fed board Raskin’s path was all but doomed after Republicans on the Senate Banking Committee boycotted her confirmation vote and Sen. Psaki said the administration supports moving all five nominees through the Senate together, and urged Republicans on the committee to “show up so that they can go through” the banking panel and to the Senate floor. 2 post, and economists Lisa Cook and Philip Jefferson for positions on the board. The president has also nominated Lael Brainard, a Fed governor, for the central bank’s No. Biden has nominated Chair Jerome Powell to serve a second four-year term Powell is now serving as acting chair. Bloom Raskin’s nomination.” Raskin was confirmed unanimously by the Senate the first time she was nominated to be a Fed governor.įour other Biden nominees to the Fed’s board are also on hold because of the committee Republicans’ boycott of a vote on Raskin. Sherrod Brown, the chairman of the Senate Banking Committee, “to garner bipartisan support,” Psaki said.Ī spokesperson for Brown said that he is “working to move forward Ms. Joe Manchin, D-W.Va., said Monday that he is 'unable' to support President Joe Bidens nomination of Sarah Bloom Raskin for the Federal Reserve Board. 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. The White House will keep working with Ohio Democratic Sen. Manchin, D-W.Va. White House press secretary Jen Psaki said Raskin “is one of the most qualified individuals to ever be nominated to this position.” Raskin previously served on the board from 2010-2014 and as deputy Treasury secretary. Joe Manchin said Monday he opposes President Joe Bidens nomination of Sarah Bloom Raskin to a top regulatory post at the Federal Reserve, delivering a major blow to her confirmation in the evenly divided Senate.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |