Sarah Bloom Raskin withdraws nomination to Fed board

Sarah Bloom Raskin has withdrawn her nomination to the Fed board, one day after West Virginia Democratic Sen. Joe Manchin announced he would not vote to confirm her, sources familiar with the matter told several outlets. 

Former Deputy Secretary of the Treasury, Raskin's nomination was controversial. Her far left views drew opposition from Republicans and more than 20 state financial officers.

Sources familiar with the confirmation process told The Washington Post, NBC, and CNN that Raskin withdrew her nomination after it became clear she would not have enough support in the Senate.

President Joe Biden released a statement on Raskin's decision to withdraw her nomination. 

"I am grateful for Sarah’s service to our country and for her willingness to serve again, and I look forward to her future contributions to our country," he wrote, claiming that her nomination had "broad support."

"I urge the Senate Banking Committee to move swiftly to confirm the four eminently qualified nominees for the Board of Governors—Jerome Powell, Lael Brainard, Philip Jefferson, and Lisa Cook—who are still waiting for an up-or-down vote," Biden added.