Rodge Cohen Discusses Nomination of Sarah Bloom Raskin for Federal Reserve Vice-Chair for Supervision on Bloomberg TVJanuary 18 , 2022
Rodge Cohen appeared on Bloomberg TV's “Balance of Power” to discuss President Biden's nomination of Sarah Bloom Raskin to be the Federal Reserve's Vice-Chair for Supervision. Rodge first noted that Ms. Raskin, with her experience as a state regulator, Federal Reserve Governor and Deputy Secretary of the Treasury, has the ideal resume for this post. Her state experience, combined with that of Governor Michelle Bowman, could promote the right-sizing of community bank regulation, he said.
He also pointed out that she has been at the forefront of recognizing the need for the regulation of the fintech sector and crypto assets and he believes she could accelerate the process of putting in place appropriate regulations.
As for whether she will push for increased bank regulation, Rodge sees Ms. Raskin as a pragmatist, rather than an ideologue, and expects any swings will be limited. He hoped the Senate moves quickly on this nomination, and those of two other nominees for Federal Reserve Governors, so that a full board of Governors can provide the certainty and stability that supports a strong banking system.