Biden’s Fed nominee Raskin withdraws after what he describes as ‘baseless attacks’

(Reuters) – U.S. President Joe Biden said on Tuesday that Sarah Bloom Raskin had withdrawn as his nominee to become the top bank regulator at the Federal Reserve after being subjected to “baseless attacks from industry and conservative interest groups.”

“Despite her readiness — and despite having been confirmed by the Senate with broad, bipartisan support twice in the past — Sarah was subject to baseless attacks from industry and conservative interest groups”, Biden said in a statement released by the White House.

(Reporting by Kanishka Singh in Bengaluru; editing by Jonathan Oatis)