Opinion | Raskin withdrawal lets Biden pick a bank regulator who will focus on banks, not climate

However, Raskin is wrong about another big thing: her oft-stated belief that economic regulators should play a bigger role in that fight. Raskin withdrew her name from consideration to be the Fed’s top bank regulator on Tuesday, which freed the Biden administration to do what it should have done in the first place: nominate someone who will keep their focus on stabilizing banks.

To give Raskin and similar advocates their due, they argue that stabilizing the banks requires stabilizing the climate. And of course regulators should make sure that climate change doesn’t trigger a systemic banking crisis — just as they should make sure that the banking system is reasonably capable of surviving unexpected wars in Ukraine, or asteroid strikes.

Yet it’s…