Biden's Federal Reserve nominees in limbo after Republican vote boycott

The development comes as the US central bank is gearing up to raise interest rates to combat the highest inflation in 40 years

U.S. Senate action on President Joe Biden's five nominees to the Federal Reserve stalled Tuesday after Republicans boycotted a key vote over objections to Sarah Bloom Raskin, the White House's pick to be the central bank's Wall Street regulator.

Senate Banking Committee Chair Sherrod Brown delayed a vote on the slate, which includes Fed Chair Jerome Powell, after none of the 12 Republicans showed up for a scheduled vote Tuesday afternoon.

Senator Pat Toomey, the top Republican on the committee, had called on fellow Republicans to skip the vote, citing what he said were unanswered questions about Raskin's past role on the