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Why Republicans Stalled Raskin’s Bid for Top Fed Post: Climate Views, Business Ties
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WASHINGTON—Sarah Bloom Raskin, the Biden administration’s nominee for a top regulatory post at the Federal Reserve, is struggling to overcome resistance from Republicans on a Senate committee for which she once served as a lawyer.
This week, Republicans lawmakers united in opposition to Ms. Raskin refused to attend a crucial committee vote. That deprived Democrats of a quorum needed to advance her along with four other Fed nominees to the full Senate, including Chairman Jerome Powell.
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