At long last, President Joe Biden has settled on a candidate for one of the biggest jobs in global finance: the vice chair for bank supervision at the Federal Reserve. The nominee — Duke University law professor Sarah Bloom Raskin — is a good choice for what will be an immensely challenging assignment.
First, it’s worth noting that everyone on Biden’s slate of nominations to the Fed’s Board of Governors is widely accomplished and well qualified. Philip Jefferson is a professor at Davidson College whose research has spanned topics ranging from monetary policy to understanding hate groups. Lisa Cook is a Michigan State University economist who has done groundbreaking work on innovation and the cost of racial violence.