BREAKING: Republicans Block Radical Left-Wing Biden Appointee

Republicans have successfully stalled several Biden nominees who were appointed to serve at the nation’s central bank, The Federal Reserve.

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Five key Fed nominees were stalled over ongoing concerns about one nominee’s qualifications. Sarah Bloom Raskin, who was nominated by Biden to become the Fed’s Vice Chair of Supervision, refused to answer Republicans’ basic questions about her employment history.

She specifically failed to disclose details about her involvement with Reserve Trust, a financial firm she worked for as an advisor from 2017 to 2019.

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She previously served on the Federal Reserve board during the Obama administration.

Although the Federal Reserve originally declined to grant a charter to Reserve Trust allowing it to utilize the Fed’s payment transmission system, she still attempted to help the company receive one.

Raskin later sold her shares in the company in 2020, which totaled about $1.5 million.

Republican Pennsylvania Senator Pat Toomey explained, “Last week, I told Chairman Brown that Republican Committee members would agree to proceed with a markup on all outstanding nominations except that of Sarah Bloom Raskin.”

“Today, Chairman Brown may choose not to allow votes on the five nominees pending before the committee and for whom he could have advanced the process.”

“Ms. Raskin’s repeated and forceful advocacy for having the Federal Reserve allocate capital and choke off credit to disfavored industries is alone disqualifying and reason enough to vote against her. But whether to proceed with a vote today is a separate question,” Toomey said.

“Important questions about Ms. Raskin’s use of the ‘revolving door’ remain unanswered largely because of her repeated disingenuousness with the Committee, from her sloppy questionnaire, to an evasive conversation with Committee staff, to her refusal to answer questions from Senator Lummis at her nomination hearing, and her non-answers in written follow-up questions to the hearing. On 36 questions for the record, for example, Ms. Raskin claimed she either did ‘not recall’ or was ‘unaware’. Her repeated forgetfulness defies credulity,” Toomey continued.

“All senators—not just Banking Republicans—deserve straightforward and honest answers from Ms. Raskin before having to cast a vote on her nomination. Her fitness to serve, her judgment, and her probity are of utmost importance because Ms. Raskin is being considered for a 10-year term at the nation’s independent central bank and foremost financial regulator. This isn’t a garden-variety political appointment.”

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“Committee Republicans aren’t seeking to delay her vote,” he said.

“We’re seeking answers. Until basic questions have been adequately addressed, I do not think the Committee should proceed with a vote on Ms. Raskin.”

In particular, Republicans have taken a hard line against Raskin because of previous comments calling on the Fed to reject fossil fuel companies who tried to apply for emergency loans during the COVID-19 pandemic.

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Going even further, Raskin has also called for the central bank to do more in addressing climate change.

She reportedly wants the bank to use its regulatory power to write rules against potential climate-related financial risks, according to The Hill.