Joe Manchin won't back Biden's Fed nominee because of her stance on climate change
Sen. Joe Manchin (D-W.Va.) on Monday announced he will not be supporting President Biden's pick for the Federal Reserve vice chair of supervision — Sarah Bloom Raskin — due to her stance on climate change, The Hill reports.
Raskin is already contending with a GOP-led boycott of a committee vote on her nomination, "effectively blocking her confirmation from advancing to the Senate floor," Politico writes. Now, even if her nomination is able to eventually advance out of the committee, Raskin will need at least one Republican to vote for her. Unfortunately, the top Republican on the Senate Banking Committee — Pennsylvania's Pat Toomey — told Bloomberg he's currently "not aware" of any Republican support for Raskin, further dooming her chances.
In his opposition announcement, Manchin said Raskin has "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."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"I have come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board," he continued.
The lawmaker also flagged the Fed board as an instituion that should not "politicize its critical decisions," suggesting he believes Raskin would in fact do so.
"I will not support any future nominee that does not respect these critical priorities," he added.
In the immediate aftermath, the White House appeared poised to double down on Raskin's nomination, despite the Manchin-shaped cloud now hanging over the process.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Raskin, 60, "has written in the past in support of the Fed increasing its attention to financial risks from climate change, but said in her confirmation hearing the central bank had no place in mandating how capital should be allocated among industries," Bloomberg notes. Manchin represents the coal-rich state of West Virginia.
Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.
-
NY attorney general asks public for ICE raid footageSpeed Read Rep. Dan Goldman claims ICE wrongly detained four US citizens in the Canal Street raid and held them for a whole day without charges
-
Trump’s huge ballroom to replace razed East WingSpeed Read The White House’s east wing is being torn down amid ballroom construction
-
Trump expands boat strikes to Pacific, killing 5 moreSpeed Read The US military destroyed two more alleged drug smuggling boats in international waters
-
Trump demands millions from his administrationSpeed Read The president has requested $230 million in compensation from the Justice Department for previous federal investigations
-
Trump nominee in limbo after racist texts leakSpeed Read Paul Ingrassia lost Republican support following the exposure of past racist text messages
-
Trump begins East Wing demolition for ballroomspeed read The president’s new construction will cost $250 million
-
Appeals court clears Trump’s Portland troop deploymentSpeed Read A divided federal appeals court ruled that President Trump can send the National Guard to Portland
-
Millions turn out for anti-Trump ‘No Kings’ ralliesSpeed Read An estimated 7 million people participated, 2 million more than at the first ‘No Kings’ protest in June



