Sen. Sherrod Brown, the Chairman of the Banking Committee, declared this Monday that he is allowing Sarah Bloom Raskin to have the post of vice-chair of supervision. Sherrod Brown has other nominees as well, however, he chose Sarah who was nominated by Joe Biden, the President of America, in spite of Joe Manchin, the Senator opposing the decision.
Reason for Sherrod Brown’s Support To Joe Biden’s Nominee
Sherrod Brown stated that he would forcefully make the Republicans and Manchin vote Sarah down on the Senate floor but still would not change his decision to appoint her. This would mean a new tenure is about to start for Jerome Powell as the Chairman.
Sherrod Brown still believes that Sarah can win, in spite of all her controversial comments about the Central Bank and all the risk of finance due to change in the climate. He even accused all the critics of the Republicans to have an interest in the business of fossil fuels. He stated that the money that comes from this business is dark and all the oil companies contribute to the senators of Republicans.
Sherrod Brown clearly made it evident that he will not remove any nominees suggested by Biden, and Sarah can be voted out by the White House or Republicans. The committee of the Bank is also thinking about Philip Jefferson and Lisa Cook as the Governors and Lael Brainard as the vice-chair.
On the other hand, members of Republicans have refused to join meetings to impeach Sarah out. They can easily refuse the quorum by not coming to the meeting. Manchin clearly stated that he does not approve of her confirmation and that means it is getting tough for Sarah to have a simple majority.
Furthermore, two more Senators, Lisa Murkowski and Susan Collins refused to support Raskin and stated that she is an inappropriate nominee.