Sarah Bloom Raskin Withdraws From Fed Nomination

Earlier this week, Sarah Bloom Raskin withdrew her nomination to be Vice Chair of Supervision and a Governor at the Federal Reserve Board. The withdrawal follows the boycott of Ms. Raskin's nomination, along with four other Fed nominees, by Republicans on the Senate Banking Committee. By not attending Committee meetings, the Senate Banking Committee lacked the necessary quorum to vote on the nominations. The final blow to Ms. Raskin's nomination came when Sen. 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."

President Biden issued a statement thanking Ms. Raskin for her willingness to serve again after previously serving as a Federal Reserve Governor and a Deputy Secretary of the Treasury. President Biden again praised that past experience, but noted "[u]nfortunately, Senate Republicans are more focused on amplifying these false claims and protecting