President Joe Biden confirmed Sarah Bloom Raskin's nomination as vice chair for supervision at the Federal Reserve on Friday, continuing a string of selections that reflect a mix of continuity and change in the Fed's ideological makeup.
Raskin has a lengthy experience with the Federal Reserve, having previously served on President Obama's board of governors. Raskin was reportedly in discussion to be Biden's Secretary of Treasury in 2020, but the job was eventually filled by former Federal Reserve Chair Janet Yellen.
"Sarah Bloom Raskin has worked as both a Deputy Secretary of the United States Department of the Treasury and a Governor of the Federal Reserve Board," according to the White House statement announcing the nomination. "At Treasury, she oversaw the Treasury Department and its various agencies and departments, pursuing creative solutions for improving American shared prosperity, the resilience of our country's critical financial infrastructure, particularly as it related to climate risk and cybersecurity, and the defense of consumer safeguards in the financial marketplace," according to a statement.
15 Jan 2022