US President Joe Biden would have liked to see Raskin on the Fed’s board of directors.
(Photo: Reuters)
Washington According to a media report, a candidate for US President Joe Biden for the Board of Directors of the US Federal Reserve has withdrawn her application.
Sarah Bloom Raskin had submitted a letter to that effect to the President’s Office, the New Yorker magazine reported on Tuesday. Raskin initially did not comment.
Biden’s party colleague, Senator Joe Manchin, said on Monday that he would not support her because of her position on energy policy.
A Raskin retreat could pave the way for confirmation from four other Fed bankers Biden has nominated.
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Among them is Fed Chair Jerome Powell, who also needs Senate approval for another term.
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