Sarah Bloom Raskin–wife of Maryland Congressman Jamie Raskin, former US Deputy Secretary of the Treasury, and former member of the Federal Reserve Board of Governors–is facing bipartisan opposition to her nomination to serve as the FED’s top banking regulator.
West Virginia Senator Joe Manchin–the Nation’s most conservative Democratic Senator–has voiced that he will oppose Raskin’s nomination citing concerns over the nominee’s previous public statements. Manchin stated that “I have carefully reviewed Sarah Bloom Raskin’s qualifications and previous public statements. Her previous public statements have failed to satisfactorily address my concerns about the critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs.”
Pennsylvania Republican Senator Pat Toomey–ranking member of the Senate Banking Committee–has stated, “Ms. Raskin’s past advocacy for having the Federal Reserve allocate capital and discriminate against traditional energy companies would not only politicize the Fed but weaken economic growth at a crucial moment in history.”
Maine Senator Susan Collins–a moderate Republican–has also voiced her opposition to Raskin’s nomination. Collins has cited “gaps in experience” for her opposition to the nominee. Collins has also stated that because of unanswered questions about Raskin’s record, it is “pretty clear” that she can’t be confirmed.
Due to Manchin’s opposition, Raskin would need at least one Republican to support her nomination. However, that is unlikely since Raskin has faced universal opposition by Republicans on the Senate Banking Committee.
The Biden Administration has remained firm in its support of Raskin’s nomination. The White House stated, “Sarah Bloom Raskin is one of the most qualified people to have ever been nominated for the Federal Reserve Board of Governors. She has earned widespread support in the face of an unprecedented, baseless campaign led by oil and gas companies that sought to tarnish her distinguished career. We are working to line up the bipartisan support that she deserves, so that she can be confirmed by the Senate for this important position.”
Sherrod Brown–Democratic Senator for Ohio and Chair of the Senate Banking Committee–took a similar tone by citing that Raskin has previously, on two occasions, received bipartisan support.