When Federal Reserve governors voted in 2011 on the Volcker rule ban on banks’ proprietary trading, Sarah Bloom Raskin was alone in opposition. For her, it wasn’t tough enough.
Raskin will be among the regulators voting next week on the final version of the rule, which is likely to be stricter than the original proposal. Later this month, the Senate may decide whether to confirm her as the Treasury Department’s No. 2 official and its highest-ranking woman ever.