President Biden's Fed Nomination In Peril As Manchin Opposes Pick
Newsy
Sen. Joe Manchin says he opposes Sarah Bloom Raskin's nomination for the Federal Reserve because of her previous public statements on finance policy.
Democratic Sen. Joe Manchin said Monday that he opposes the nomination of Sarah Bloom Raskin to a key position on the Federal Reserve's Board of Governors, endangering her prospects of winning Senate confirmation.
Raskin's nomination has been stuck in the Senate Banking Committee since Republicans last month unanimously refused to vote on it in order to prevent her being approved on a party-line vote. Manchin is not a member of the committee but his opposition means that for Raskin to win Senate approval, she would need to pick up a Republican vote.
Committee Republicans led by Sen. Pat Toomey have opposed Raskin on the grounds that she has been an outspoken supporter of having the Fed consider the threat to climate change in its regulation of banks. President Joe Biden has nominated Raskin to serve as the Fed's vice chair for supervision, a top financial regulatory post.
