Raskin nomination for Fed in peril as Democrat opposes pick

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Sen. Joe Manchin says he opposes the nomination of Sarah Bloom Raskin to a key position on the Federal Reserve’s Board of Governors. The West Virginia Democrat’s stance endangers Raskin’s prospects of winning Senate confirmation. Her nomination has been stuck in the Senate Banking Committee after Republicans last month unanimously refused to vote on it in an effort to prevent her being approved on a party-line vote. Manchin is not a member of the committee but his opposition means that for Raskin to win Senate approval, she would need to pick up a Republican to offset a Manchin “no” vote.