Economics
Raskin Signals She Won’t Target Energy Industry in Fed Role
- Raskin is Biden’s pick to oversee bank regulation at the Fed
- Ex-Treasury official, Fed governor faces confirmation hearing
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The Federal Reserve’s chief bank watchdog shouldn’t tell lenders what sectors they can do business with, Sarah Bloom Raskin told the Senate committee weighing her confirmation as the most important U.S. supervisor of Wall Street banks.
Raskin has drawn Republican opposition over her past remarks on climate change, and her remarks prepared for a Thursday hearing appear to address that criticism. Raskin said that bank regulators must not be distracted by “short-term political agendas or special interest groups,” so they can focus on big-picture risks, including “from nature and cataclysmic weather-related events.” But, she also said that the supervision role isn’t about picking favorite industries.