Andrea Shalal, Jeff Mason

WASHINGTON (Reuters), White House press secretary Jen Psaki dismissed Monday’s concerns that Sarah Bloom Raskin wouldn’t be able to keep the Federal Reserve independent given her husband’s involvement in impeachment proceedings against President Donald Trump.

Raskin is the nominee of President Joe Biden to be Fed’s Vice Chair for Supervision. Judges should focus on her “impeccable qualifications” rather than her marriage with Representative Jamie Raskin. Psaki stated that Raskin was the Democratic lead prosecutor in the 2021 impeachment case.

Psaki stated that she believes she is able to stand on her own credentials, and not only because she’s female, but also because of her accomplishments in her professional career. Many have said she is the best person for this job, which I consider more important than what her husband has done.

Raskin, an ex-Fed governor and former Treasury Department official and who has strong support from progressive Democrats, is being criticized by fiscal conservatives as well as business groups for her views regarding climate change.

Psaki stated to reporters that Raskin had given her assurances to her independence in the Federal Reserve’s role and she would continue to work with her colleagues in reducing risks if this is confirmed.

Psaki stated that she believes Psaki should be judged on her qualifications, just like every nominee. She was chosen for the role because of her experience and her outstanding credentials. It’s not possible for me to question that.

The U.S. Chamber of Commerce last week sent an unprecedented letter to lawmakers https://www.reuters.com/business/us-chamber-issues-rare-warning-fed-nominee-raskin-citing-oil-gas-views-2022-01-28 raising concerns about Raskin and her calls for federal regulators to transition financing away from the fossil fuel industry.

Twenty-four members from the conservative State Financial Officers Foundation representing 21 states urged Biden Monday to withdraw Raskin’s nomination. They warned that her “radical bank and economic views,” which they called her, could force oil and gas companies off of banks and drive energy prices up sharply.

Sherrod Brown, Chairman of the Senate Banking Committee said last week that he had met Raskin and Biden’s nominations for two additional Fed jobs and stated there was no doubt they were qualified.

According to administration officials, Raskin’s views regarding climate change align with the public comments made by Jerome Powell (Federal Reserve Board Chairman) and Janet Yellen (Treasury Secretary).

Pat Toomey however, the Republican top man on the panel has attacked Raskin for “demonstrated hatred” towards the oil and natural gas industry.

A confirmation hearing will be held on Thursday by Raskin and two Black economists, Lisa Cook, to confirm their nominations for Fed.