Senate by voice vote, as a state regulator, and in the private sector, demonstrates her intellect, qualifications, and commitment to transparency and integrity." Department of Treasury, positions for which she was confirmed by the U.S. Raskin’s service at the Federal Reserve and the U.S. “The IIB congratulates Sarah Bloom Raskin on her nomination to serve on the Board of Governors of the Federal Reserve System as Vice Chair for Supervision…Ms. For that reason former Treasury official Sarah Bloom Raskin is a welcome choice by president Joe Biden for the nomination.” The much more successful navigation of the coronavirus pandemic by big US banks - supported by monetary largesse - showed, by contrast, what can be gained from stricter regulation of a sector that is so fundamental to the wider economy. The harrowing experience of the 2008 financial crisis demonstrated the costs of failing to do this task properly. “The job of the new Federal Reserve vice-chair of supervision is clear: keep the financial system stable. Glenn Hubbard, Former Chair Council of Economic Advisors under President Bush in Morning Money “ Brings a wealth of experience to a Fed role." It would be contrary to her nature to do anything else.”īetsy Duke, Former Fed Governor in Morning Money I saw every day Sarah’s commitment to the Fed’s dual mandate, its independence, and its culture of collegiality. “The characterization of Sarah Bloom Raskin as someone who will use the powers of the Fed for political purposes is simply false. The Senate should allow her to get to work without delay.” “Raskin’s record suggests she’s well qualified. "Sarah Bloom Raskin is an outstanding choice to be the Federal Reserve Board of Governors’ Vice Chair for Supervision…She is the right person to balance the health of Wall Street with that of Main Street." She’ll help rein in Wall Street and make sure we have a strong recovery from the COVID-19 crisis for all American families. She is exactly who we need to return to the Fed as Vice Chair for Supervision at this critical moment. She understands some of the most pressing issues in our financial system, from income & wealth inequality to the economic risks of climate change to cybersecurity challenges.She has fought for working Americans – following the 2008 financial crisis, she focused on protecting consumers.As a former state regulator, she understands our banking system and the important role that small and midsize banks play in our local communities.Governor Sarah Bloom Raskin has dedicated much of her career to public service – she served on the Fed and at Treasury – and also has private sector experience that adds to her perspective on the economy.OVERVIEW: President Biden’s Fed nominees will get to work on the economic issues that matter most to Americans’ lives, like raising wages, increasing job opportunities, and bringing down prices. RE: Federal Reserve Vice Chair of Supervision Nominee the Honorable Sarah Bloom Raskin TO: Editors, Editorial Writers, and ReportersįROM: Senate Banking and Housing Committee Majority Staff FebruReporter Memo: Federal Reserve Vice Chair of Supervision Nominee the Honorable Sarah Bloom Raskin
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