Fed nominee Bloom Raskin pledges not to 'direct loans'

By Associated Press

Pushing back against critics, a key nominee to the Federal Reserve's Board of Governors said in testimony before a Senate panel that she would not make it more difficult for any industry to obtain bank loans. Sarah Bloom Raskin, a former Fed governor and deputy Treasury Secretary, has been nominated by President Joe Biden to be the Fed's vice chair for supervision, the nation's top bank regulator. Republicans have charged that Bloom Raskin's previous statements on climate change suggest she would use her position at the Fed, if confirmed, to discourage banks from lending to oil and gas companies.

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