Raskin Withdraws From Fed Nomination After Support Crumbles (2)

Sarah Bloom Raskin withdrew as President Joe Biden’s nominee to be the Federal Reserve’s vice chair of supervision Tuesday after it became clear she didn’t have the votes to be confirmed.

Raskin’s chances for the post evaporated after Senator Joe Manchin of West Virginia, a pivotal Democratic vote in the 50-50 Senate, announced he wouldn’t support her. Senator Susan Collins of Maine, a Republican moderate who is often a target for Democrats seeking a GOP vote, also announced her opposition.

In a letter to Biden, Raskin said she “became the subject of relentless attacks by special interests” because of ...