From WSJopinion: Sarah Bloom Raskin’s views should trouble Senators who care about the Fed’s independence. And they should especially concern Democrats whose state economies depend on fossil fuels.
President Biden has a chance to remake the Federal Reserve Board of Governors by filling multiple vacancies. This is especially important given inflation’s breakout, yet Mr. Biden’s latest nominees seem less worried about prices than pushing progressive policies that aren’t the Fed’s job.
Mr. Biden on Friday nominated former Treasury official Sarah Bloom Raskin as Fed vice chair for supervision, along with economists Lisa Cook and Philip Jefferson to vacancies on the Board of Governors. All three deserve scrutiny, but especially Ms. Raskin given what would be her regulatory power over banks and finance.
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