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NATIONWIDE – In response to President Biden’s nomination of Sarah Bloom Raskin for Vice Chair of Supervision at the Federal Reserve, the Communications Workers of America released the following statement of support:
“President Biden’s nomination of Sarah Bloom Raskin for Fed Vice Chair of Supervision is a critical step towards creating a financial system that serves all Americans. As it stands, our financial system needs urgent change and accountability. Just today, Wall Street banks announced record earnings while millions are struggling to get critical financial support. Raskin will bring the experience and values needed to help drive a more equitable economy and provide better scrutiny to hold the big banks to account for abusive practices that harm consumers and workers while threatening the safety and soundness of our financial system.
Raskin's voice, along with those of the highly-qualified Federal Reserve Board of Governors nominees Dr. Lisa Cook and Dr. Philip Jefferson, will go a long way to ensuring that the voices of all Americans are heard at the Federal Reserve. We urge the Senate to move quickly on to confirm these nominees so that they can begin reforming our broken system.”