President Biden’s nominee for a top regulatory post at the Federal Reserve has withdrawn after opposition from fossil fuel interests dashed her hopes of …
President Biden’s nominee for a top regulatory post at the Federal Reserve has withdrawn after opposition from fossil fuel interests dashed her hopes of confirmation in the closely divided Senate. Sarah Bloom Raskin had drawn criticism from Senate Republicans for arguing that bank regulators should pay more attention to the financial risks posed by climate change. Her fate was sealed on Monday, when Democratic Sen. Joe Manchin of West Virginia said he would oppose her, calling Raskin insufficiently committed to an « all-of-the-above energy policy. » Biden complained that Raskin had been the target of « baseless attacks from industry and conservative interest groups.
