Tags: obama | fed | raskin | treasury

Obama Expected to Name Raskin as First Female Treasury Deputy

Wednesday, 31 Jul 2013 02:04 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama plans to name Federal Reserve Governor Sarah Bloom Raskin as deputy Treasury Secretary, making her the highest-ranking woman in the history of the Treasury department, according to two people familiar with the matter.

Raskin, 52, has been vetted for the position and Obama plans to nominate her in the coming weeks, according to the people, who asked for anonymity to discuss the personnel decision before an announcement. Treasury Secretary Jacob J. Lew has been told of the choice, according to one of the people.

Prior to serving as Maryland’s top financial regulator from 2007 to 2010, Raskin was a managing director at Promontory Financial Group, which advises banks. She was nominated to the Fed in March of 2010.

Her departure will leave a second opening on the Fed’s board. Governor Elizabeth Duke, who also focused on regulation, announced July 11 that she would be leaving the central bank at the end of August.

In addition, Fed Chairman Ben S. Bernanke’s term ends early next year. Obama is considering “several candidates,” said National Economic Council director Gene Sperling, at a Christian Science Monitor breakfast in Washington today.

The president has indicated he won’t make an announcement on a replacement until after August.

Obama defended former Treasury Secretary Larry Summers, a potential candidate for Fed Chairman, in a meeting with Congressional Democrats today.

“He took a minute to stand up for Larry Summers,” said Representative Brad Sherman of California. Obama told Democrats he hadn’t made a decision about whom to appoint as Fed chairman.

White House spokeswoman Amy Brundage didn’t respond to a request for comment.


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Book: Secret Service Threatened to Shoot Mets Mascot

Friday, 18 Apr 2014 07:34 AM

The mascot for the New York Mets received a stern warning from the Secret Service during a visit then-President Bill Cli . . .

Rep. Farenthold Says Contempt Bill Aimed at Restoring Power to Congress

Friday, 18 Apr 2014 06:29 AM

Texas Republican Rep. Blake Farenthold said Thursday a bill he's introduced to withhold Attorney General Eric Holder's p . . .

Admiral McRaven: Suicide Among Special Forces at Record Levels

Friday, 18 Apr 2014 06:09 AM

Suicides among U.S. special operations forces, including elite Navy SEALs and Army Rangers, are at record levels, a U.S. . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved