Biden Fed nominee Sarah Bloom Raskin withdraws board candidacy
Sarah Bloom Raskin, President Biden’s embattled pick for the Federal Reserve’s top banking regulator, withdrew her nomination on Tuesday, according to a source familiar with the matter, after Republicans and one key Democrat opposed her nomination.
Her withdrawal comes one day after Sen. Joe Manchin, a Democrat who often serves as a vital swing vote in the 50-50 Senate, said that he could not support her nomination, citing her stance on energy in the era of sky-high inflation.
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