Biden’s central bank nominee prompted Republicans to boycott a vote. The administration would be better served focusing on hires who can solve pressing non-partisan problems rather than risking solving no problems at all, writes GinaChon:
The Senate Banking Committee on Feb. 15 delayed a vote on five nominees for the Federal Reserve after Republicans boycotted the gathering. That party’s lawmakers oppose the candidacy of Sarah Bloom Raskin for vice chair of supervision because of her past comments about the financial risks of climate change. Raskin is a former deputy Treasury secretary and ex-Fed governor.
The Republican move also delayed a vote for a second term for Fed Chair Jerome Powell and elevating central bank governor Lael Brainard to vice chair of the institution. All of the candidates also have to be approved by a majority of the entire Senate.FILE PHOTO: Then-U.S. Deputy Treasury Secretary Sarah Bloom Raskin participates in an open meeting of the President's Advisory Council on Financial Capability for Young Americans at the Treasury Department in Washington, October 2, 2014.
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