![]() "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," the statement said. In a statement on Raskin's withdrawal, Biden said that she was an eminently qualified candidate with broad support and experience. He added, "We are working to line up the bipartisan support that she deserves, so that she can be confirmed by the Senate for this important position." White House deputy press secretary Chris Meagher tweeted Monday that Raskin "is one of the most qualified people to have ever been nominated for the Federal Reserve Board of Governors–she previously served on the Board and she served as second-in-command at Treasury, both positions where she earned bipartisan Senate confirmation." In a similar statement Monday, Manchin said that he was "unable" to support Raskin's nomination and that 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." The senator represents West Virginia, where the coal industry has a major presence.Äespite losing Manchin's critical vote, the Biden administration appeared committed to doing all it could to get her confirmed. Above, Raskin speaks before a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on February 3. Sarah Bloom Raskin withdrew her candidacy Tuesday to become the Federal Reserve's next vice chair for supervision, CNBC reported. Pennsylvania Senator Pat Toomey tweeted Monday that Raskin's "past advocacy for having the Federal Reserve allocate capital and discriminate against traditional energy companies would not only politicize the Fed, but weaken economic growth at a crucial moment in history." Republican objections to her stance caused a delay in her confirmation vote. She has said she would use her role to urge banks to not lend to fossil fuel companies. Raskin, a former deputy Treasury secretary and member of the Federal Reserve's Board of Governors, had promised to take a tougher stance on climate change through regulation. ![]() Her prospects of being confirmed in the evenly divided Senate grew dim Monday when Democratic Senator Joe Manchin said he would not vote for her nomination. Raskin was nominated for the position by President Joe Biden, but she got pushback from Republicans over her statements on climate change and policy. ![]() Sarah Bloom Raskin withdrew her candidacy Tuesday to become the Federal Reserve's next vice chair for supervision, the White House confirmed in a statement.
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