Senate Republicans boycott vote on Federal Reserve nominees
CNN
Senate Republicans boycotted a vote Tuesday afternoon in protest of President Joe Biden's nomination of Sarah Bloom Raskin to be the top banking regulator, halting a slate of pending nominees for the central bank of the United States.
While Republicans support other nominees -- including Jay Powell to continue serving as Federal Reserve chairman -- they are opposed to Raskin's nomination as the Fed's vice chair for supervision since she previously called for the Fed to crack down on bank lending to fossil fuel companies.
Raskin, who served as a deputy treasury secretary and a governor of the Federal Reserve Board in the Obama administration, has since said she would not use her position to restrict lending to the oil-and-gas industry, emphasizing in February, "Banks choose their borrowers, not the Fed."