President Obama has nominated Federal Reserve Gov. Sarah Bloom Raskin to be the new deputy secretary at the Treasury Department.
She is a “proven leader whose experience and knowledge will be a tremendous asset to the Treasury Department,” said Treasury secretary Jack Lew.
Raskin has served at the Federal Reserve Board since October 2010. She was Maryland’s top financial regulator from 2007 to 2010.
She has also worked as a banking consultant and served on the staff of the Senate Banking Committee in the 1990s.
“I have no doubt that her intellect and understanding of the financial services industry will make her an outstanding deputy secretary,” said Senate Banking Committee chairman Tim Johnson.
If confirmed by the Senate, Raskin will replace deputy secretary Neal Wolin who served under former Treasury secretary Timothy Geithner during the financial crisis and worked on crafting the Dodd-Frank legislation.
“Neal Wolin made valuable contributions to the Wall Street Reform Act,” Johnson said.
The Federal Reserve Board will also have another vacancy soon.
Fed Gov.
