Sarah Bloom Raskin Withdrawal From Nomination To A Federal Reserve Board of Governors Role

Sarah Bloom Raskin is an American attorney and regulator who served as the 13th Deputy Secretary of the Treasury of the United States from 2014 to 2017.

President Joe Biden nominated her to succeed Randal Quarles as vice chair for Federal Reserve supervision in January 2022.

Sarah withdrew her nomination on March 15, 2022, due to opposition from Republican senators and Democratic Senator Joe Manchin.

Senate Republicans chastised Sarah Bloom Raskin for saying that bank authorities should pay more attention to the financial concerns presented by climate change.

Raskin was the focus of “baseless attacks from industry and conservative interest groups,” according to President Biden.

“Rather than a fruitful and educated discussion about climate and financial risk, the country was exposed to diversionary attacks on my ethics and character,” Raskin wrote to President Biden in withdrawing her nomination.

“Attacks on my character do not bother me. However, I am genuinely concerned about the threat that this practice poses to the public good and the willingness of talented and dedicated people to serve in government “She continued.