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Biden to Name New Fed Nominee After Raskin Withdrawal

Joe Biden
Joe BidenPhotographer: Al Drago/Bloomberg

President Joe Biden will put forward a new nominee for the Federal Reserve after an earlier choice, Sarah Bloom Raskin, withdrew from consideration on Tuesday when it became clear she did not have enough votes in the Senate for confirmation.

“It’s an important role and he will nominate someone to fill the position,” White House Press Secretary Jen Psaki said at a Wednesday press briefing. Psaki did not provide a timeline for announcing a new nominee.