By Whitney Teal
Sarah Bloom Raskin, of Takoma Park, could become the first woman to serve as deputy secretary of the U.S. Treasury, after President Barack Obama said Wednesday he plans to nominate her to the post, Bloomberg reported.
If confirmed by the U.S. Senate, Raskin would become the most powerful woman in the history of the Treasury, according to Bloomberg.
Raskin was nominated by Obama for her current role as a member of the Federal Reserve System’s Board of Governors, The Los Angeles Times reported.
“Sarah has a deep understanding of banking and financial regulatory issues as well as a firm grasp of how to run large, complex organizations,” Treasury Secretary Jacob J. Lew said in a statement. “[Raskin is] a proven leader whose experience and knowledge will be a tremendous asset.”
"Throughout her career, Sarah has demonstrated a strong commitment to protecting consumers, and she shares my conviction to do everything possible to increase job creation, accelerate economic growth and strengthen the middle class," Lew said.
Raskin worked as Maryland’s commissioner of financial regulation from 2007 to 2010, before moving to the Fed. From 2003 to 2007, she worked as managing director of Promontory Financial Group, a financial industry consulting firm, according to her Federal Reserve biography.
Raskin is married to state Sen. Jamie Raskin, a Democrat representing District 20.