Biden Eyes Raskin as Top Fed Banking Regulator
President Biden is considering Sarah Bloom Raskin for a top role at the Federal Reserve as part of a slate of three nominees for central bank board seats, according to people familiar with the matter.
The administration is eyeing Ms. Raskin, a former Fed governor and former Treasury Department official, to become the central bank’s vice chairwoman of supervision, the government’s most influential overseer of the American banking system, the people said.
Mr. Biden is also considering two economists for other Fed board seats that will soon be vacant: Lisa Cook, a professor of economics and international relations at Michigan State University; and Philip Jefferson, a professor and administrator at Davidson College in North Carolina.
Ms. Raskin’s nomination could mollify progressive Democrats, some of whom opposed Mr. Biden’s decision in November to offer a second term to Fed Chairman Jerome Powell, a Republican first chosen for the top job by former President Donald Trump. They have called for the Fed to take a tougher stance in regulating big banks and a bolder approach in addressing financial risks posed by climate change.
https://www.msn.com/en-us/news/politics/biden-eyes-raskin-as-top-fed-banking-regulator/ar-AASd6oE
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Sarah Bloom Raskin
Lisa Cook
Philip Jefferson
