
Biden's plan to reshape the Fed just hit a hurdle
CNN
President Joe Biden planned to reshape the Federal Reserve through his nominations. But Senator Joe Manchin threw a wrench into those plans Monday.
The crux of the matter is the nomination of Sarah Bloom Raskin, a former deputy Treasury secretary and a governor of the Federal Reserve Board during the Obama administration, who is facing opposition in a divided Senate.
Raskin's stance on environmental issues, including her view on the transition away from fossil fuels, are colliding with soaring gas prices and a renewed debate about oil independence in the face of the Russia-Ukraine conflict.
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