Sarah Bloom Raskin on Tuesday withdrew from consideration to be Federal Reserve vice chair for supervision, according to the White House.
President Joe Biden blamed the withdrawal on Senate Republicans, who have led a weekslong boycott that prevented her nomination from advancing to the Senate floor. But it was opposition from key Senate Democrat Joe Manchin III of West Virginia that made her confirmation impossible in the evenly split Senate absent support from a Republican.
“Despite her readiness — and despite having been confirmed by the Senate with broad, bipartisan support twice in the past — Sarah was subject to baseless attacks from industry and conservative interest groups,” Biden said in a statement. “Unfortunately, Senate Republicans are more focused on amplifying these false claims and protecting special interests than taking important steps toward addressing inflation and lowering costs for the American people.”
