Joe Biden has tapped Sarah Bloom Raskin, the former deputy Treasury secretary, to lead financial oversight for the Federal Reserve as the White House seeks tougher regulations on big banks and greater attention to climate change-related financial risks.
The US president on Thursday night sent Raskin’s nomination as the Fed’s vice-chair for supervision to the Senate, where she will have to be confirmed for the post, according to a person familiar with the matter.
Biden also nominated Lisa Cook, a professor of economics and international relations at Michigan State University, and Philip Jefferson, a professor of economics at Davidson College, to fill the two remaining vacancies on the Fed’s board of governors.
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