Concerns over Fed nominee may stop Senate from confirming Biden’s picks: Report By Cointelegraph



Members of the U.S. Senate Banking committee have reportedly divided along party lines regarding President Joe Biden’s pick of Sarah Bloom Raskin as vice chair for supervision for the Board of Governors at the Federal Reserve.

According to a Tuesday report from Reuters, Senator Pat Toomey, the ranking member on the Senate Banking Committee, said he had asked the 12 Republican senators on the committee to not attend a meeting in which members were expected to vote on President Biden’s nominees for the Fed. Toomey reportedly said that Democratic leadership can proceed with “five of the six nominees” put forth by the President and expect Republican support — with the exception of Raskin.

Sarah Bloom Raskin testifying before the Senate Banking Committee on Feb. 3