WASHINGTON—Sarah Bloom Raskin, President Joe Biden’s pick to lead the Federal Reserve’s regulatory work, plans to tell lawmakers she does not believe the role includes telling banks where they should be lending.
In prepared testimony posted by the U.S. Senate Banking Committee on Wednesday ahead of her nomination hearing on Thursday, Raskin said the role of vice chair for supervision requires broad consultation inside and outside of the Fed on how best to ensure banks are managing their risks.
