WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) – a member of the Senate Committee on Banking, Housing and Urban Affairs – joined Fox Business today to discuss the scheduled committee markup on President Biden’s Federal Reserve Vice Chair for Supervision nominee, Sarah Bloom Raskin.
“The Banking Committee has a significant role here to play in who should have a long-term appointment to the Federal Reserve” said Sen. Moran. “Quite frankly, President Biden’s nominees are troublesome and Sarah Bloom Raskin leads that list.
“The concern today is we have asked – Republicans on the committee have asked – for information about Sarah Bloom Raskin’s involvement in transactions that occurred after she left the Fed, after she left the Obama administration, related to a grant by the Federal Reserve,” concluded Sen. Moran. “Those answers from her and the lack of answers from the Federal Reserve itself, not just the nominee not responding, but the Fed itself won’t provide us information, and that’s the reason to delay.”
Last week, Republican on the Banking Committee communicated to the Chairman they were willing to proceed with the markup of all pending nominees except for Ms. Raskin due to the number of unanswered questions that remain from the vetting process, including her efforts to lobby the Kansas City Fed. During her nomination hearing, Ms. Raskin refused—three separate times—to answer a question of whether she contacted the Fed or Kansas City Fed on behalf of Reserve Trust.
Earlier this month, Sen. Moran questioned Ms. Raskin in her nomination hearing regarding her views on the ability of the Federal Reserve to regulate industries, particularly the oil and gas industry.
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