Sarah Bloom Raskin has emerged as the frontrunner for the top regulatory job at the Federal Reserve, with the Biden administration expected to announce her nomination in the coming days.
The former Fed governor — who previously served as deputy secretary of the US Treasury in the Obama administration — is expected to be tapped for the vice-chair of supervision at the US central bank, according to people familiar with the matter.
If confirmed by the Senate, Raskin, a Democrat and former commissioner of financial regulation in Maryland, would be tasked with leading the central bank’s oversight of the largest and most important financial institutions and crafting new rules to ensure their soundness and stability.
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