Politics

FED UP: Manchin Torpedoes Biden's Fed. Reserve Nominee, 'Won't Help Meet Our Critical Energy Needs'

posted by Hannity Staff - 3.14.22

Senator Joe Manchin (D-WV) has indicated that he is a “no” when it comes to Biden nominee Sarah Bloom Raskin, who was Joe’s pick to be a member of the Federal Reserve Board. Raskin hasn’t satisfactorily addressed Manchin’s concerns that she will focus on the issues most pressing to everyday Americans.

“Now more than ever, the United States must have policy leaders and economic experts who are focused on the most pressing issues facing the American people and our nation – specifically rising inflation and energy costs, Manchin said in a statement. “I have carefully reviewed Sarah Bloom Raskin’s qualifications and previous public statements. Her previous public statements have failed to satisfactorily address my concerns about the crucial importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs. I have come to the conclusion that I am unable to support her nomination to serve as a member of the Federal Reserve Board.”

“The Federal Reserve Board is not an institution that should politicize its critical decisions. This is a 10-year term to perhaps the most important independent body that is tasked with ensuing the stability of the American economy,” Manchin continued. “At this historic moment for both the United States and the world at large, it is imperative the Federal Reserve Board preserves its independence and steers clear of any hint of partisanship. Instead, the Federal Reserve Board must remain hyper focused on ending the inflation taxes hurting working families and getting more workers off the sidelines and back into the ecnomony. The time has come for the Federal Reserve Board to return to its defining principles and deal mandate of controlling inflation by ensuring stable prices and maximum employment. I will not support any future nominee that does not respect these crucial priorities.”

According to downhill.com, during her confirmation hearing in February, Raskin came under heavy scrutiny for her positions and biases against the oil and gas industry.

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