'More Important Than Ever': Former Treasury Secretary Urges Senate Leaders to Confirm Biden Nominees to Federal Reserve ASAP

Former Treasury Secretary Jacob Lew told top lawmakers that it’s critical the Senate confirm President Biden’s nominees to the Fed.

Lew told Sens. Chuck Schumer and Mitch McConnell that the Fed need a full staff as the central bank prepares to hike interest rates to cool inflation.

Senate Republicans, who are blocking the nomination of Biden Fed nominee Sarah Bloom Raskin, reiterated their opposition in a separate letter to Biden.