Reuters

U.S. Chamber issues rare warning on Fed nominee Raskin, citing oil, gas views

WASHINGTON (Reuters) -The U.S. Chamber of Commerce on Thursday sent an unprecedented letter to lawmakers raising concerns about Sarah Bloom Raskin, President Joe Biden’s nominee as the Federal Reserve’s vice chair for supervision, and her calls for federal regulators to transition financing away from the fossil fuel industry. The U.S. industry lobby group urged leaders of the Senate Banking Committee to question Raskin about those statements and her criticism of the Fed for allowing oil and gas companies to access emergency pandemic funds, among other issues. Tom Quaadman, executive vice president of the Chamber’s Center for Capital Markets Competitiveness, said the trade group had never before sent a public letter questioning a Fed nominee, but noted the group had stopped short of opposing her nomination outright, at least for now.

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