President Joe Biden announced on Friday his appointment of Sarah Bloom Raskin to serve as vice chair for supervision at the Federal Reserve, continuing a series of appointments that cumulatively signal a balance of continuity and change in the ideological constitution of the Fed. Raskin has a long history in the Fed, having previously served on the board of governors under President Obama. In 2020, it was reported that Raskin was under consideration to serve as Biden’s Secretary of Treasury, a position which was ultimately filled by former Federal Reserve Chair Janet Yellen. “Sarah Bloom Raskin has served both as the Deputy Secretary of the U.S. Department of the Treasury and as a Governor of the Federal Reserve Board,” reads the White House’s official statement to announce the appointment. “At Treasury, she oversaw the Treasury Department and its various agencies and departments, pursuing innovative solutions to enhance American’s shared prosperity, …

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