Biden withdraws one Fed nominee, urges approval of Powell, others

Politics Economy

U.S. President Joe Biden said Tuesday he will withdraw his nomination of Sarah Bloom Raskin to serve in a key regulatory role at the Federal Reserve after facing opposition from both Republican and Democratic senators. Biden at the same time urged the Senate committee on banking to "move swiftly" to confirm the four other nominees for the Federal Reserve Board, including Jerome Powell, the current Fed chief who has been nominated for a second term. Despite her experience as deputy secretary of the Treasury Department and a Fed governor, Raskin has faced concerns from Republicans over her focus...

Kyodo News

Kyodo News