Raskkin’s FED Job Ended By Picking Wrong Horse?

Some battles in Biden’s War on Fossil Fuels are won by the underdogs, the latest example being the withdrawal of Sarah Bloom Raskin’s nomination to the FED’s top regulatory post as even Dem Sen Joe Manchin signaled a “no” vote because of her energy stance in our “era of sky-high inflation.”

What’s wrong with drafting the FED to force feed the lib left’s Green New Deal Agenda onto the entire economy, e.g., by planting environmentalists like Raskin to key policy making posts? Did greedy “big oil” kill the nomination as the LA Times headlined or, as the WSJ suggested, the death blow was really struck by pols in energy-producing states like Pennsylvania & Wyoming, let alone Manchin’s West Virginia, when she criticized the Treasury Dept in 2020 for not taking steps during the pandemic to block banks from lending to highly-indebted fossil-fuel companies.

Mr. Biden called it a “smear” campaign against Ms. Raskin who had been twice confirmed by the Senate for other posts. But, that was political horse trading then, this is now. Said Pa Senator Pat Toomey: “The Senate’s bipartisan rejection of [Raskin’s] nomination sends a powerful message to the FED and to all financial regulators, that it is not their job to allocate capital or stray from their mission to pursue extraneous or politically charged campaigns.”

Davd Soul