Senate Republicans have managed to beat back several left-wing Biden nominees, most recently Saule Omarova, who in December withdrew her nomination for banking comptroller after several moderate Democrats indicated they would oppose her. On the other hand, the American Bankers Association issued a statement congratulating her immediately after her Jan. Chamber of Commerce asked whether it was the Fed’s role “to direct capital away from certain industries that are politically disfavored.” The Senate should reject her nomination.” “ Raskin is a ‘climate warrior’ who wants to bankrupt American energy companies. “If you think the price of gas is high now, just wait until Sarah Bloom Raskin gets to the Federal Reserve,” tweeted Sen. Raskin‘s nomination has met with statements of opposition from 41 oil-and-gas trade associations, the American Energy Alliance, the Competitive Enterprise Institute, and Senate Republicans. President Biden has nominated someone for the Federal Reserve who has made clear she wishes to use the power of the central bank to effectively destroy the U.S. Raskin to protect Americans from risks that could bring down financial markets and institutions and wreck people’s savings – from cybersecurity threats to climate financial risk,” said Mr. Sherrod Brown, the Ohio Democrat who chairs the committee, blasted what he called a “coordinated effort by some to paint her as some sort of radical,” pointing out that she served as deputy treasury secretary and as a Federal Reserve governor under President Obama. In December, Energy Secretary Jennifer Granholm urged oil producers to “hire more workers” and “get your rig counts up,” according to Energy Intelligence, a message at odds with the administration’s efforts to curtail oil-and-gas leasing on federal lands and its cancellation of the Keystone XL pipeline. Raskin last month to serve as the Federal Reserve’s vice chair for banking supervision as his administration continues to send mixed signals on climate change and fossil-fuel production. Bill Hagerty, Tennessee Republican, said he was worried about “weaponizing the Fed and using it to attack industries like the oil-and-gas industry, particularly right now when we see energy prices through the roof.” You said they ought to be allowed to go broke.” John Kennedy, Louisiana Republican, to retort, “except for oil and gas. Raskin said that she “the whole point of the op-ed was that the Fed should not pick winners and losers,” prompting Sen.
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