 "Sarah Bloom Raskin is selected to lead regulation and supervision at the US Federal Reserve. (Photo: Bloomberg)")
U.S. President Joe Biden's decision to pick Sarah Bloom Raskin to lead regulation and supervision at the Federal Reserve will put a progressive in the most powerful role overseeing Wall Street's biggest banks.
Raskin, a former Fed governor and Treasury official under former President Barack Obama, will replace Randal Quarles who was appointed the Fed's vice chair for supervision by Republican former President Donald Trump in 2017, according to a source familiar with the matter.
A source familiar with the process said Biden had selected Raskin. Her nomination would be subject to Senate confirmation.
Quarles stepped down from the role in
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