Raskin withdraws as Biden’s Fed nominee

Sarah Bloom Raskin has withdrawn as President Joe Biden’s nominee to be the Federal Reserve’s top Wall Street watchdog, according to a person familiar with the decision.

Raskin, whom Biden tapped to be the Fed’s vice chair for supervision, has been stuck in the Senate Banking Committee amid a GOP boycott of a committee vote on her nomination, effectively blocking her confirmation from advancing to the Senate floor.

Sen. Joe Manchin (D-W.Va.) and moderate Republicans Susan Collins and Lisa Murkowski said Monday they would not support Raskin’s nomination, imperiling her chances of confirmation.

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