March 14, 2022

Toomey Urges Brown to Move Forward with Fed Nominees

Washington, D.C. – U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) issued the following statement after Senator Joe Manchin (D-W.V.) announced his decision to oppose the nomination of Sarah Bloom Raskin, Vice Chair for Supervision at the Federal Reserve. 

“As Senator Manchin suggested today, Ms. Raskin’s past advocacy for having the Federal Reserve allocate capital and discriminate against traditional energy companies would not only politicize the Fed, but weaken economic growth at a crucial moment in history. With inflation at a 40-year high, gas prices skyrocketing, and Russia waging an energy-funded war, the last thing the American people need are unelected bureaucrats advancing policies that will cause energy costs to rise.

“As we’ve repeatedly said, Republican members of the Banking Committee are willing to vote on the other four Fed nominees. I hope Chairman Brown will immediately move forward with scheduling a vote for this week.”