DEAD IN THE WATER

Manchin, Collins Doom Biden’s Pick for Federal Reserve

At least one Republican would now have to support Sarah Bloom Raskin’s nomination.

Reps. Joe Manchin (D-WV) and Susan Collins (R-ME) indicated on Monday that they will not be supporting Sarah Bloom Raskin’s already stalled nomination to the Federal Reserve, all but guaranteeing she won’t be confirmed. At least one Republican would now have to support Raskin, whom President Joe Biden nominated to serve as the Fed’s Board of Governors’ vice chair for supervision. In a statement, Manchin, a moderate Democrat, said he had “carefully reviewed” Raskin’s past statements and qualifications and concluded: “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.” Collins then told reporters “there is not a path forward.” Manchin, like the GOP senators, have criticized Raskin’s past view that the Fed should focus on the financial threats of climate change.