MNI BRIEF: Manchin Won't Support Raskin, In Blow To Fed Bid

Democratic Senator Joe Manchin Monday said he won't support Sarah Bloom Raskin's nomination for Federal Reserve vice chair for supervision, dealing a major plow to her nomination in a Senate with razor thin margins.

"Her previous public statements have failed to satisfactorily address my concerns about the critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs," Manchin said in a statement. "I have come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board."

The Biden administration's five nominees to the Federal Reserve Board have been held up in a political fight for about a month. Senator Manchin, a Democrat of West Virginia, has said previously he would support the four other nominees including Jerome Powell as Fed Chair and Lael Brainard as vice chair.