Sarah Bloom Raskin, Pres. Joe Biden’s choice for a crucial Federal Reserve roll, withdrew her nomination this week after getting bipartisan pushback.
Sarah Raskin’s nomination came under strong opposition by GOP lawmakers and corporate groups that said her past positions on a number of subjects including climate policy caused her to not be qualified for the job. GOP members of the Senate Banking Committee that is led by top Member Pat Toomey have boycotted a new vote to send her nomination and four more nominations to the U.S. Senate for a vote since Feb..
“Unfortunately, Sen. Republicans are looking more on protecting special interest and amplifying these false claims than making important steps toward lowering costs and addressing inflation for the American people,” Joe Biden said in a statement this week. “I am thankful for Sarah’s service to our country and for her wanting to serve again, and we look forward to her continuing contributions to our country.”
Joe Biden nominated Sarah Raskin for vice chair woman for supervision at the Fed. Reserve System on January 14.
But Dem. Sen. Joe Manchin, the current chairman of the Senate Energy Committee, said this week that he wouldn’t vote for Sarah Raskin, almost ending her hopes of being confirmed.
In a February 2 memo, Banking Committee GOP members pointed to her previous comments saying that fed. financial regulations should be “reimagined” to protect the world from a “hot planet that is not livable.” A group of top financial officers from twenty-five states also proclaimed their opposition to her nomination in Jan., citing her policy positions that capital should be squeezed off from fuel programs and banks that help gas and oil companies should be punished.
“Sarah Raskin is a ‘climate warrior’ who would hurt the narrow Federal statutory mandates by having the central bank to actively work in capital allocation and energy companies,” the report said.
The Chamber of Commerce and some of the fossil fuel groups also was against Raskin for the Fed. Reserve role.
Sarah Raskin’s announcement was initially reported by The Wall Street Journal.
Joe Biden’s administration is known for his extreme leftist team members and this time is no different. Thank God sanity prevailed and Biden did not get his way.