The fossil fuel industry and their lobbyists and friends in Congress may not like that,” Warren added. “Perhaps the real problem here is that Professor Bloom Raskin isn’t willing to let Big Oil stand in the way of the Fed doing its job. An institution responsible for the security of our financial system and the growth of our economy cannot blind itself to climate issues. “Asking the Fed to ignore climate risk is to ask the Fed to defy its congressional mandate. Elizabeth Warren (D-Mass.), argued that the controversy surrounding Bloom Raskin was ridiculous, pointing out that even current Fed Chair Jerome Powell and other Fed members have cited the risk of climate change. And Bloom Raskin denied anything improper and said she’s always been “very mindful of the rules.” She currently serves as a Duke University law professor. It is not illegal for private citizens, or even lawmakers’ spouses, to buy and sell stocks. Jamie Raskin (D-Md.), who’s married to the Fed nominee, included information about the sale in a financial disclosure report filed last August, but may have failed to do so properly, according to a Business Insider report.
“Even in this town, that’s a lot of money for being on a company’s board of directors for two years,” Cynthia Lummis (R-Wy.) said Thursday. It’s the first fintech trust company to get approval, which occurred while Bloom Raskin was at Treasury.īloom Raskin joined the board of Reserve Trust in 2017 and left in 2019, selling the stock she had acquired in the company for $1.5 million in 2020. Reserve Trust received a coveted Fed master account, which provides access to the Fed’s payments system. Others have attacked Raskin’s role as a board member for Denver-based fintech company Reserve Trust. “Bank supervisors must make sure that the safety of banks and the resilience of our financial system are never compromised in favor of short-term political agendas or special interest groups,” she said in her testimony. financial system, bank regulators need to say “attentive to risks no matter where they come from,” including those inside the financial sector, as well as those from nature and even cyberattacks. Bloom Raskin did note in her testimony, however, that to ensure the resilience of U.S.
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