Senator Joe Manchin is the most conservative Democrat in Senate. He said Monday that he opposed one of President Joe Biden’s nominations for the Federal Reserve. This leaves her chance to join the central banking with very slim hopes.

“I have carefully reviewed Sarah Bloom Raskin’s qualifications and previous public statements. Manchin stated that her previous statements did not adequately address my concerns regarding the crucial importance of funding an energy policy for all-of-the above to meet our nation’s energy needs.

He said, “I am not able to support her nomination as Federal Reserve Board member.” Raskin, a former Fed governor, served as deputy Treasury secretary under the Obama administration.

Manchin’s opposition to Raskin’s candidacy for Fed vice chair for supervision is a major blow. This position, which makes Raskin one of the most influential banking regulators worldwide, could be canceled. Although Raskin may be able to win support from moderate Republicans, the Senate divided 50-50 doesn’t mean that there is a united Democratic party. This makes it extremely unlikely any Presidential nominee will succeed.

“Sarah Bloom Raskin is one of the most qualified people to have ever been nominated for the Federal Reserve Board of Governors,” a White House spokesperson told CNBC. “She won widespread support despite an unproven, baseless campaign by oil-and gas companies to ruin her remarkable career. “We are trying to get the bipartisan support she needs so she can be confirmed in the Senate.

Manchin last week stated that Biden should be promoted by his party. four other Fed nominees without RaskinAs oil prices rise after Russia’s invasion, the U.S. has supported its energy industry for many weeks.

Biden nominated Jerome Powell for another term as Fed chair. He also chose Lael brainard to serve as vice chair and Lisa Cook, Philip Jefferson, as Fed governors.

He stated Monday that he didn’t think Raskin (who has called for tougher climate policies and criticized the energy sector) could be a Fed member without politicizing her decision-making.

Manchin declared that “The Federal Reserve Board should not be politicizing their critical decisions.” The time is right for the Federal Reserve Board’s return to their defining principles and double mandate to control inflation and ensure stable prices and maximum employment. Any nominee who does not adhere to these crucial priorities will be rejected by me.

Manchin has received donations from many top executives working in the energy, coal and oil industries. Ryan Lance, ConocoPhillips CEO, Vicki Holub, CEO at Occidental Petroleum and R. Lane Riggs president of Valero Energy have all donated money to Manchin over the past year. 

His comments cap off a weeklong dispute between Democrats and Republicans in the Senate Banking Committee. There, the GOP has boycotted voting on presidential candidates to protest Raskin’s policies.

Republicans under the leadership of Sen. Pat Toomey (Pennsylvania Banking Committee Ranking Member) have indicated that they are open for a vote regarding Jefferson, Brainard and Cook. Democrats led by Sen. Sherrod of Ohio and the White House, however, made a strong rebuttal and stated that they would only allow a vote on the nominations.

Both sides have been at war since February about Raskin’s fate.

On February 3, Republicans launched their attack on Raskin in her confirmation hearing. Many criticised her views on climate and her potential move by the Fed to discredit banks from financing fossil fuel companies.

This is a developing story. Keep checking back for more updates.