{"id":416592,"date":"2022-03-15T23:45:00","date_gmt":"2022-03-15T20:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bidens-pick-for-fed-vice-chair-for-supervision-withdraws-amid-republican-objections\/"},"modified":"2022-03-15T23:45:00","modified_gmt":"2022-03-15T20:45:00","slug":"bidens-pick-for-fed-vice-chair-for-supervision-withdraws-amid-republican-objections","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bidens-pick-for-fed-vice-chair-for-supervision-withdraws-amid-republican-objections\/","title":{"rendered":"# Biden&#8217;s pick for Fed vice chair for supervision withdraws amid Republican objections"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4128ac73bad\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4128ac73bad\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bidens-pick-for-fed-vice-chair-for-supervision-withdraws-amid-republican-objections\/#%E2%80%9D_Bidens_pick_for_Fed_vice_chair_for_supervision_withdraws_amid_Republican_objections_%E2%80%9C\" >&#8221; Biden&#8217;s pick for Fed vice chair for supervision withdraws amid Republican objections &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bidens_pick_for_Fed_vice_chair_for_supervision_withdraws_amid_Republican_objections_%E2%80%9C\"><\/span>&#8221; Biden&#8217;s pick for Fed vice chair for supervision withdraws amid Republican objections &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMDUwNTQxY2QtNTFlNi00NzNkLThkYmUtNjRmODAxN2U4NGViLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Former Federal Reserve Board governor Sarah Bloom Raskin has withdrawn her name for consideration as the central bank\u2019s vice chair for supervision in an attempt to allow other nominations to move forward.<\/p>\n<p>According to a Tuesday tweet from Washington Post journalist Seung Min Kim, Raskin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/seungminkim\/status\/1503821842909388805\">sent<\/a> a letter to U.S. President Joe Biden withdrawing as his nominee for the next vice chair for supervision of the Federal Reserve, citing \u201crelentless attacks by special interests.\u201d The letter referred to Republican lawmakers who, she said, have \u201cheld hostage\u201d her nomination since February. <\/p>\n<p>\u201cTheir point of contention was my frank public discussion of climate change and the economic costs associated with it,\u201d said Raskin. \u201cIt was \u2014 and is \u2014 my considered view that the perils of climate change must be added to the list of serious risks that the Federal Reserve considers as it works to ensure the stability and resiliency of our economy and financial system.\u201d<\/p>\n<p>She added: <\/p>\n<blockquote><p>\u201cThe identification and prioritization of economic threats is not only within the mandate of the Federal Reserve but essential to the well-being of the country.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Sarah Bloom Raskin\u2019s withdrawal letter. Of note: \u201cHad the boycotting senators simply challenged my belief in the need to integrate climate-based risks and costs into the financial regulatory <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>aratus, I would have welcomed the opportunity for this important discussion.\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/IYphgLaISn\">pic.twitter.com\/IYphgLaISn<\/a><\/p>\n<p>\u2014 Seung Min Kim (@seungminkim) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/seungminkim\/status\/1503821842909388805?ref_src=twsrc%5Etfw\">March 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThough Democrats currently hold a slight majority in the U.S. Senate with Vice President Kamala Harris able to act as a tie-breaking vote, West Virginia Senator Joe Manchin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.npr.org\/2022\/03\/14\/1086456895\/sen-joe-manchin-sarah-bloom-raskin-nomination-fed-climate\">said<\/a> on Monday that he was opposed to Raskin\u2019s nomination, suggesting that the political party was unlikely to push through Biden\u2019s pick without Republican support. On Tuesday, Senate minority leader Mitch McConnell reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/usa-fed-bloomraskin-mcconnell\/mcconnell-calls-on-white-house-to-replace-fed-nominee-bloom-raskin-idUSW1N2RU076\">called<\/a> on the U.S. president to submit a new candidate for the Fed vice chair for supervision.<\/p>\n<p>In February, lawmakers on the Senate Banking Committee were scheduled to vote on Raskin\u2019s nomination as well as those of prospective Fed chair Jerome Powell, vice-chair Lael Brainard, and board members Lisa Cook and Philip Jefferson. However, Republican lawmakers reportedly boycotted the meeting over allegations by party members that Raskin lobbied the president of the Kansas City Fed in 2017 for access to its payments systems on behalf of Reserve Trust.<\/p>\n<p>Raskin was a board member of the fintech firm at the time. In her withdrawal letter, she said the allegations \u201chave been fully refuted and have no basis in law or fact.\u201d<\/p>\n<p>\u201cRather than a productive and informed discussion about climate and financial risk, the country was treated to diversionary attacks on my ethics and character,\u201d said Raskin. \u201cWe are witnessing a drive to make financial risk a tawdry political issue.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Lines in the sand: US Congress is bringing partisan politics to crypto<\/em><\/strong><\/p>\n<p><strong><em><\/em><\/strong>Pat Toomey, the ranking member of the Senate Banking Committee, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.banking.senate.gov\/newsroom\/minority\/toomey-urges-brown-to-move-forward-with-fed-nominees\">said<\/a> on Monday that Republicans were willing to move forward with voting on Powell, Brainard, Cook and Jefferson \u2014 but not Raskin. Without a vote before the full Senate, some of the nominees have been seemingly unable to assume the duties necessary for a fully-staffed Federal Reserve. The Fed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/other20220204a.htm\">named<\/a> Powell as the chair pro tempore, pending Senate confirmation on Feb. 4. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/biden-s-pick-for-fed-vice-chair-for-supervision-withdraws-amid-republican-objections\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Biden&#8217;s pick for Fed vice chair for supervision withdraws amid Republican objections &#8220; Former Federal Reserve Board governor Sarah Bloom Raskin has withdrawn her name for consideration as the central bank\u2019s vice chair for supervision in an attempt to allow other nominations to move forward. According to a Tuesday tweet from Washington Post journalist&#8230;<\/p>\n","protected":false},"author":1,"featured_media":416593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMDUwNTQxY2QtNTFlNi00NzNkLThkYmUtNjRmODAxN2U4NGViLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[70550,71511,70934,67874],"class_list":["post-416592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-federal-reserve","tag-government","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/416592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=416592"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/416592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/416593"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=416592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=416592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=416592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}