President Joe Biden’s quest to appoint Sarah Bloom Raskin as the Federal Reserve’s top banking regulator is now officially an afterthought.
According to Fox Business, Raskin withdrew herself from the running for the position of the Fed’s vice chair for supervision, “a powerful role that oversees annual stress tests designed to review bank safety and liquidity,” Fox noted.
Raskin, a complete and utter climate change radical, cited “relentless attacks by special interests” as her reason for dropping out of the running, which plays well for victim card purposes, but the real reason is quite a bit more embarrassing.
Simply put, Raskin, while welcomed by the radical progressive wing of the Democratic Party, didn’t have the confidence of Sen. Joe Manchin (D-WV), who made clear earlier this year that he could not support her for the job. Between Manchin and several Republicans vowing to not support her, she stood zero chance of making it through a Senate confirmation vote.
The president defended Raskin’s radical ideology and echoed the blame game against Republicans for opposing her, failing to point out that it was a member of his own party that ultimately derailed any hopes of her confirmation.
“Unfortunately, Senate Republicans are more focused on amplifying these false claims and protecting special interests than taking important steps toward addressing inflation and lowering costs for the American people,” a statement from the president read.
He went on to tell the Senate Banking Committee to move forward with confirming other key Fed nominations, and endorsed Fed Chair Jerome Powell’s renomination.
Raskin dropping out of the running marks another major setback for a struggling Biden administration that continues to select some of the most progressive, radical nominees for a number of high-profile positions.
Senate Banking Chair Sherrod Brown (D-OH) also reacted to Republicans’ concerns over Raskin’s nomination.
“Sadly, the American people will be denied a thoughtful, experienced public servant who was ready to fight inflation, stand up to Wall Street and corporate special interests, and protect our economy from foreign cyber attacks and climate change.”
Close call for America
Given Raskin’s focus on climate change, as if that has any direct effect on Biden’s record-setting inflation, which continues to rise, it’s a relief for the U.S. economy that she took herself out of the running.
Hopefully, the White House will now search for a candidate who isn’t picked based on skin color, gender, or their dangerous, progressive worldviews.