Sarah Bloom Raskin

Sarah Bloom Raskin
United States Deputy Secretary of the Treasury
Assumed office
March 19, 2014 (2014-03-19)[1]
President Barack Obama
Preceded by Mary J. Miller (acting)
Governor of the Federal Reserve System
In office
October 4, 2010 (2010-10-04) – March 13, 2014 (2014-03-13)
Nominated by Barack Obama
Maryland Commissioner of Financial Regulation
In office
2007 – October 4, 2010
Personal details
Born Sarah Bloom
(1961-04-15) April 15, 1961
Medford, Massachusetts, U.S.
Nationality American
Spouse(s) Jamie Raskin
Parents Arlene Perlis Bloom
Herbert Bloom
Residence Takoma Park, Maryland[2]
Alma mater Amherst College (B.A.)
Harvard Law School(J.D.)

Sarah Bloom Raskin (Born April 15, 1961) is an American attorney and regulator, who was formerly a member of the Board of Governors of the Federal Reserve System and current United States Deputy Secretary of the Treasury. Previously, she served as Maryland Commissioner of Financial Regulation.

Early life and education

Raskin was born Sarah Bloom in Medford, Massachusetts, the daughter of Arlene (née Perlis) and Herbert Bloom.[3] She holds a J.D. degree from Harvard Law School and a B.A. in economics from Amherst College, where she wrote her undergraduate thesis on monetary policy. She is a 1979 alumnae of Homewood-Flossmoor Community High School in Flossmoor, Ill.[4]

Career

Raskin worked as an associate at Arnold & Porter and as counsel for the U.S. Senate Banking Committee.[5] Prior to serving as Commissioner, she was a Managing Director at the Promontory Financial Group. Raskin also served as chief financial regulator for Maryland.[6]

President Obama nominated Raskin to the Federal Reserve Board along with fellow nominees Dr. Janet Yellen, president of the Federal Reserve Bank of San Francisco, and Massachusetts Institute of Technology economics professor Peter A. Diamond.[4] Raskin and Yellen were unanimously confirmed as Federal Reserve Board governors by the United States Senate on September 30, 2010.[7] On October 4, 2010, both were sworn in by Fed Chairman Ben Bernanke.[8] As a member of the Federal Reserve Board, Raskin gained a reputation as someone focused on consumer protection and income inequality.[6]

On July 31, 2013, President Barack Obama announced that he would nominate Raskin to the second-in-command position of Deputy Secretary at the United States Department of the Treasury.[9] She was confirmed to the position on March 12, 2014 by a voice vote.[10] Upon confirmation, Raskin became the highest-ranked woman in the history of the Treasury Department.[6] Raskin was sworn in on March 19, 2014.[1] Upon her confirmation as Deputy Secretary she resigned as a Member of the Board of Governors of the Federal Reserve System on March 13, 2014.[11]

Personal life

Raskin is married to Jamie Raskin, a law professor, Democratic Maryland state senator, and son of progressive activist Marcus Raskin.[6] They have three teenage children.

References

  1. 1 2 "Sarah Bloom Raskin Sworn in as Deputy Secretary". Press Center. United States Department of the Treasury. Retrieved 22 March 2014.
  2. ↑ Friends of Jamin Raskin (2006). "Biography". Jamie Raskin for State Senate campaign web site. Archived from the original on August 27, 2006. Retrieved May 4, 2006.
  3. ↑
  4. 1 2 Reddy, Sudeep (April 29, 2010), "Obama Nominates Yellen, Raskin, Diamond to Fed Board", Wall Street Journal.
  5. ↑ http://www.nytimes.com/2010/03/13/business/economy/13fed.html
  6. 1 2 3 4 Mui, Ylan (12 March 2014). "Senate confirms Fed governor for No. 2 post at Treasury". Washington Post. Retrieved 12 March 2014.
  7. ↑ Business news in brief Two confirmed to Fed board; BP updates safety practices; earnings reports KansasCity.com, September 29, 2010 (October 9, 2010)
  8. ↑ Fed Press Release federalreserve.gov, October 4, 2010 (October 9, 2010)
  9. ↑ Ylan Q. Mui, Wash. Post, Fed’s Raskin is chosen for deputy Treasury secretary, July 31, 2013.
  10. ↑ "United States Senate Periodical Press Gallery". United States Senate. Retrieved 12 March 2014.
  11. ↑ "Membership of the Board of Governors of the Federal Reserve System, 1914-Present". Appointive Members. Board of Governors of the Federal Reserve System. Retrieved 22 March 2014.
Political offices
Preceded by
Mary J. Miller
Acting		 United States Deputy Secretary of the Treasury
March 19, 2014 – 		Incumbent
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