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Former Federal Reserve Governor Sarah Bloom Raskin withdrew her nomination for Fed vice chair for supervision.
Senate Opposition: Raskin’s withdrawal came a day after Sens. Joe Manchin (D-W.Va.) and Susan Collins (R-Maine) announced they would not support her nomination, dealing a blow to her nomination due to the Senate’s 50-50 partisan divide.
Other Nominees: In a statement, President Joe Biden encouraged the Senate to swiftly confirm his other Fed nominations: Fed Chairman Jerome Powell’s renomination, Fed Governor Lael Brainard for Fed vice chair, and academics Lisa DeNell Cook and Philip Nathan Jefferson for Fed governors.