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.
-
Denmark’s record-setting arms purchase raises eyebrows and anxiety
IN THE SPOTLIGHT By eschewing American-made munitions for their European counterparts, the Danish government is bracing for Russian antagonism and sending a message to the West
-
Is hate speech still protected speech?
Talking Points Pam Bondi’s threat to target hate speech raises concerns
-
‘Mental health care is health care’
Instant Opinion Opinion, comment and editorials of the day
-
Trump renews push to fire Cook before Fed meeting
Speed Read The push to remove Cook has ‘quickly become the defining battle in Trump’s effort to take control of the Fed’
-
Judge lets Cook stay at Fed while appealing ouster
Speed Read Trump had attempted to fire Cook over allegations of mortgage fraud
-
House posts lewd Epstein note attributed to Trump
Speed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
Supreme Court allows 'roving' race-tied ICE raids
Speed Read The court paused a federal judge's order barring agents from detaining suspected undocumented immigrants in LA based on race
-
South Korea to fetch workers detained in Georgia raid
Speed Read More than 300 South Korean workers detained in an immigration raid at a Hyundai plant will be released
-
DC sues Trump to end Guard 'occupation'
Speed Read D.C. Attorney General Brian Schwalb argues that the unsolicited military presence violates the law
-
RFK Jr. faces bipartisan heat in Senate hearing
Speed Read The health secretary defended his leadership amid CDC turmoil and deflected questions about the restricted availability of vaccines
-
White House defends boat strike as legal doubts mount
Speed Read Experts say there was no legal justification for killing 11 alleged drug-traffickers