Manchin Praises Biden’s Fed Picks as ‘Extremely Qualified’

(Bloomberg) -- Democratic Senator Joe Manchin praised all five of President Joe Biden's nominees for the Federal Reserve, an important signal for their confirmations in the 50-50 Senate.

“They all look extremely qualified,” the West Virginia senator, who is a pivotal vote, said Tuesday of the nominees.

While Federal Reserve Chair Jerome Powell likely faces easy confirmation to a second term as head of the central bank, other Biden nominees have come in for criticism from GOP senators. Sarah Bloom Raskin, who is nominated for vice chair of supervision, faces opposition from the oil and gas lobby and some Republicans over her view the Fed should act to mitigate the risks from climate change.

Separately, Banking Chair Sherrod Brown of Ohio told reporters he planned to vote in committee on Biden's Fed picks on Feb. 15.

The committee has a confirmation hearing with Raskin as well as Fed nominees Lisa Cook and Philip Jefferson on Thursday.

Raskin has been meeting with committee members including Jon Tester of Montana to address their concerns ahead of the hearing. Tester, like Manchin a moderate Democrat from a state won by former President Donald Trump, said his meeting with Raskin Monday “went well” and better than he expected. But he said he is waiting for the hearing before making up his mind on whether to support her.

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