Every Democrat’s nemesis ever since he stymied the Build Back Better bill, Democratic Senator Joe Manchin, is yet again being the rational voice of his party. In what will likely be a blow to Democrats, Manchin said he opposes President Biden’s nomination to serve on the seven-member Federal Reserve board.
Manchin’s lack of support will likely block her nomination entirely. “Manchin’s surprise announcement handed the White House a significant defeat after it invested time defending Raskin’s contentious candidacy” writes The New York Post. “It follows Manchin (D-WV) blowing up Biden’s $2 trillion Build Back Better Act in December.”
In a statement, Manchin said “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 critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs,”
“This is a 10-year term to perhaps the most important independent body that is tasked with ensuring the stability of the American economy. 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” the Senator continued.
White House Press Secretary Jen Psaki said Biden still has hope that she will be confirmed if they can just get one Republican vote on board. Raskin is married to Democrat Senator Jamie Raskin of Maryland.
The Post states there is currently “no known Republican support in the evenly divided Senate, meaning she is unlikely to attain the bare majority needed to win confirmation.”