![]() ![]() ![]() Raskin was on the board of Reserve Trust in 2017 when the Kansas City Fed denied the company access to the central bank’s payments systems Reserve Trust gained access the following year. Republicans say she has given incomplete answers about whether she used her government contacts from her time in top posts at the Fed and the Treasury Department during the Obama administration to aid Reserve Trust, a private Colorado payments firm. Bloom Raskin’s fate was sealed on Monday, when Joe Manchin, the Democratic senator from West Virginia, signalled that he would oppose her confirmation because she failed to satisfactorily. On March 15, 2022, she withdrew her nomination due to opposition from Republican senators and Democratic senator Joe Manchin. Joe Manchin III (D-W.Va.) announced his opposition, because she failed to satisfactorily address my concerns about the critical importance. Republicans on the committee, led by ranking member Pat Toomey of Pennsylvania, boycotted planned votes on the nominees last month, preventing them from being considered, because of Raskin’s nomination. Raskin withdrew her candidacy on Tuesday, after Sen. The Banking Committee has been gridlocked for weeks over the slate of five nominees, which includes the nomination of Jerome Powell for a second term as Fed chairman. Joe Manchin said on Monday he will oppose her nomination, likely dooming her chances. ![]() Joe Manchin announced Monday that he opposed Raskin’s confirmation, and all Republicans in the evenly. I have come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board." WASHINGTON (AP) Sarah Bloom Raskin withdrew her nomination Tuesday to a position on the Federal Reserve’s Board of Governors after a key Democrat had joined with all Senate Republicans to oppose her confirmation. "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. Senator Joe Manchin (D-WV) released the following statement on his decision to oppose the nomination of Sarah Bloom Raskin to the Federal Reserve Board. "I have carefully reviewed Sarah Bloom Raskin’s qualifications and previous public statements," he said in a statement. ![]()
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