Monday, January 17, 2022

Biden could announce Raskin this week as the Fed’s vice president – Axios

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FILE PHOTO: Sarah Blum Raskin attends an open meeting of the Financial Advisory Board for Young Americans under the President on October 2, 2014 at the Department of the Treasury in Washington, D.C., as Deputy Secretary of the Treasury. / Yuri Gripas / Photo file

() – U.S. President Joe Biden may choose former Federal Reserve Governor Sarah Blum Raskin as vice president of central bank supervision, Axios said Monday, announcing the announcement this week.

Raskin, who worked in the Treasury Department during the Obama administration, could bring a tighter regulatory profile to the country’s strongest banking supervision role, a position recently vacated by Randal Kvarlz, who was appointed by Donald Trump.

The most important of the vacancies on the Fed’s seven-member board, which could be filled by Biden, the vice president of oversight, is the first-term Democrat to have a permanent foothold in Wall Street control and U.S. monetary policy. allows you to leave.

Biden is also considering two black economists – Lisa Cook of the University of Michigan and Philip Jefferson of Davidson College in North Carolina – for seats on the Fed board.

could not immediately reach the White House for comment.

A report earlier reported by The Wall Street Journal that Biden was considering Ruskin leading a regulation at the central bank as part of a list of three candidates for the board of directors.

Jaiveer Singh Shekhawat’s interview in Bangalore; Edited by Sri Navaratnam

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