![]() Manchin for months over single-handedly killing the White House’s $1.75 trillion social welfare and climate change package. ![]() The congressman, who represents the Washington suburbs of Maryland, is a stalwart member of the far-left Congressional Progressive Caucus. Raskin, who also served as deputy secretary of the Treasury under Mr. “I think that Senator Manchin said it well this morning that he did not believe there was a path forward for the nominee and I would agree with that,” she said. Collins told Bloomberg News late Monday that she won’t support the nominee. Sarah Bloom Raskin, nominated to be vice chairman for supervision and a member of the Federal Reserve Board of Governors, speaks during her Senate confirmation hearing on Feb. “We are working to line up the bipartisan support that she deserves, so that she can be confirmed by the Senate for this important position.”īut Ms. “She has earned widespread support in the face of an unprecedented, baseless campaign led by oil and gas companies that sought to tarnish her distinguished career,” said White House spokesperson Chris Meagher. Lisa Murkowski of Alaska and Susan Collins of Maine.Īdministration officials believe that either of the senators can be convinced to save the nomination, and are refusing to withdraw Mrs. The White House’s only hope for confirmation rests in the hands of Republican Sens. Manchin’s opposition likely prevents the nomination from moving forward. After serving as the second-in-command at Treasury and with prior service on the Federal Reserve Board of Governors, Sarah Bloom Raskin knows better than anyone how important the Federal Reserve. Since the Senate is split 50-50 between both parties, Mr. “Instead, the Federal Reserve Board must remain hyper-focused on ending the inflation taxes hurting working families and getting more workers off the sidelines and back into the economy.” Her husbands paperwork shows the couple failed to properly disclose large holdings in Reserve Trust, a fintech company. “At this historic moment for both the United States and the world at large, it is imperative the Federal Reserve Board preserves its independence and steers clear of any hint of partisanship,” Mr. Biden nominated Sarah Bloom Raskin as the Feds vice chairwoman of supervision. That situation changed, however, after inflation spiked to nearly 8% last month and Russia invaded Ukraine, scrambling the global energy market. Manchin, who chairs the Senate Energy and Natural Resources Committee, had for the most part remained quiet on the nomination. WASHINGTON Sarah Bloom Raskin, the Biden administration’s nominee for a top regulatory post at the Federal Reserve, is struggling to overcome resistance from Republicans on a Senate committee.
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