![]() “I stand with the vast majority of financial regulators and central banks in the United States and abroad recognizing these facts. It is especially important during these times when. This raises awareness that radicals who speak out against fossil fuels and capital investment are out of the mainstream in this country. “Addressing the transition of the economy as it grapples with the effects of climate change is critical to the future of American prosperity,” Raskin said in her letter to Biden. Once again Senator Joe Manchin shows himself to be a statesman who understands the American economy and the strength of American energy production with his announcement today to oppose Sarah Bloom Raskin. “Her previous public statements have failed to satisfactorily address my concerns about the critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs,” Manchin said Monday. Raskin’s lack of response to her controversial background caused our Republican colleagues on the Banking Committee to boycott her mark-up and block her advancement. Some Republicans have also questioned whether Raskin used her connections to help the fintech firm Reserve Trust get approved for a “master account” with the Kansas City Federal Reserve in 2018, when she served on the company’s board of directors (Raskin and the Kansas City Fed have denied any wrongdoing). goal, nominating Sarah Bloom Raskin to be the Vice Chair of Supervision at the Federal Reserve is surely among one of your most divisive actions. We write to express our concerns with your anti-American energy agenda, including your nomination of Sarah Bloom Raskin to serve as Vice Chair for Supervision at the Board of Governors of the Federal Reserve System. ![]() Raskin said in a confirmation hearing last month she didn’t intend to use her role as the Federal Reserve’s top bank regulator to stop financial institutions from lending to fossil fuel companies: “Banks choose their borrowers, not the Fed,” she told senators. Elizabeth Warren (D-Mass.), but Manchin and Senate Republicans have criticized her belief that financial regulators and the Federal Reserve should take the risk of climate change into account when setting rules and crafting monetary policy. Her nomination drew support from progressives like Sen. In January, Biden nominated Raskin to be the Fed’s vice chair for supervision. ![]() A law professor, Raskin previously worked as deputy treasury secretary and served on the Federal Reserve’s Board of Governors during the Obama Administration. ![]()
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