Biden Withdraws Raskin’s Fed Nomination After Manchin Shoots It Down

Sarah Bloom Raskin, nominee to be vice chairman for supervision and a member of the Federal Reserve Board of Governors, speaks during the Senate Banking, Housing and Urban Affairs Committee confirmation hearing in Washington, on Feb. 3, 2022. Bill Clark/Pool/AFP via Getty Images

President Joe Biden announced Tuesday that he would withdraw Sarah Bloom Raskin’s nomination to serve as Vice Chair for Supervision of the Federal Reserve Board of Governors.

The announcement came one day after Sen. Joe Manchin (D-W.Va.) declared he would not vote for Raskin, a move many observers saw as the death knell for her nomination in a closely divided Senate.