Embattled Federal Reserve pick Raskin withdraws nomination

March 15, 2022 GMT

WASHINGTON (AP) — Sarah Bloom Raskin, under fire from Senate Republicans for her views on climate change and financial regulation, has withdrawn her name from consideration for a key post on the Federal Reserve’s Board of Governors.

Raskin’s nomination was stuck in the Senate Banking Committee after Republican senators boycotted a vote on it. Sen. Joe Manchin, a Democrat from West Virginia, said Monday that he also opposed her, dooming her chances of winning confirmation in the full Senate.

President Joe Biden had nominated Raskin to serve as the Fed’s vice chair for supervision, a top financial regulatory post.