Monetary policy won’t change either way – but bank regulatory policy gets more hawkish.
What you're not hearing about Biden's Fed nominees
Friday, January 14, 2022
Raskin isn't a pro-regulation zealot, but still she can't be confirmed
Update to Strategic View
Biden has nominated three persons to fill the vacancies on the Fed Board of Governors, including Raskin to be vice-chair of supervision. She favors tighter bank regulation, but is not a radical like Cordray or Omarova. Her confirmation will be thwarted by a 2020 op-ed in the New York Times in which she said the Fed should not have supported the fossil fuel industry in relief programs implemented in the depression caused by the pandemic lockdowns. West Virginia's Manchin will not be able to support her, and all it takes if one defecting Democrat. Republican opposition will hold firm because her husband was the lead House manager in the second attempt to impeach Trump.