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MNI BRIEF: Fed Nominee Raskin Grilled on Energy Comments

Sarah Bloom Raskin, President Biden’s nominee of Federal Reserve vice chair for supervision, was grilled by Republican senators Thursday over opinion pieces she penned that were critical of Fed emergency lending to the fossil fuel industry.

“I have great concern about your nomination,” said Senator Kevin Cramer of North Dakota, echoing the comments of several of his colleagues.

Raskin replied that “it is not a regulator or supervisory function for a regulator to take over a basic business decision that a bank is making.”

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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