Biden to Tap Sarah Bloom Raskin for Fed's Powerful Vice Chair for Supervision: Report

Posted on by American Coins & Gold

Biden to Tap Sarah Bloom Raskin for Fed's Powerful Vice Chair for Supervision: Report
U.S. President Joe Biden will nominate Sarah Bloom Raskin as the U.S. Federal Reserve’s vice chairman for supervision, CNBC reported on Thursday, citing people familiar with the matter. The president will also tap Lisa Cook and Philip Jefferson as Fed governors, according the report.Raskin was a governor at the central bank from 2010 to 2014 before serving as deputy secretary of the Treasury under the Obama administration. She is married to Rep. Jamie Raskin, D-Md.Raskin’s nomination faces a challenge from the Senate Banking Committee’s ranking member, Pennsylvania Republican Sen. Pat Toomey. He criticised all three of Biden’s potential picks.“Sarah Bloom…