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Sarah Bloom Raskin Withdraws as Biden’s Pick for Top Fed Banking Regulator
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WASHINGTON—Sarah Bloom Raskin, President Biden’s nominee to become the government’s most powerful banking regulator, withdrew from consideration on Tuesday, the White House said, amid opposition to her nomination from Republicans and a key Democrat.
The withdrawal is a major blow for the Biden administration, which has struggled to advance its financial nominees through the evenly divided Senate. It came a day after Sen. Joe Manchin of West Virginia, a key Democratic vote in the evenly divided chamber, said Monday that he couldn’t support Ms. Raskin’s nomination, citing her views on addressing climate change.
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