Sarah Bloom Raskin is an American attorney, financial regulator, and legal scholar known for her influential roles at the U.S. Treasury and the Federal Reserve Board, as well as her work on financial stability and climate related financial risk. She served as the U.S. Deputy Secretary of the Treasury from 2014 to 2017 under the Obama administration, becoming one of the highest-ranking women in the department’s history.
She is widely recognized for shaping U.S. financial regulation after the Great Recession and for advancing discussions around sustainable finance, banking supervision, and systemic risk management.
Today, she works as the Colin W. Brown Distinguished Professor of the Practice of Law at Duke University School of Law, where she focuses on financial stability, climate-related financial risks, and consumer protection.
Throughout her career, she has also served as Maryland’s Commissioner of Financial Regulation and as a member of the Federal Reserve Board of Governors, two roles that significantly strengthened her influence in national economic policymaking.
This guide explains her early life, education, career, husband, children, and net worth.
Quick Facts
Sarah Bloom Raskin Early Life, Age and Birthday
Sarah Bloom Raskin was born on April 15, 1961, to Arlene (née Perlis) and Herbert Bloom in Medford, Massachusetts. She is 64 years old. She grew up in a family that valued education and public service, which shaped her interest in law, economics, and policy from an early age.
Her upbringing in Massachusetts played an important role in shaping her academic interests, particularly in economics and public policy, which later became central themes throughout her professional life.
Raskin’s Educational Background
Raskin attended Homewood-Flossmoor High School and graduated from there in 1979. She went to Amherst College, graduated magna cum laude, and was a member of Phi Beta Kappa with a Bachelor of Arts degree in economics in 1983.
During her undergraduate studies, she focused on monetary policy and wrote her thesis on monetary policy.
Her academic training in both economics and law positioned her at the intersection of financial markets and regulatory oversight, a combination that later distinguished her career in federal financial institutions.
After Amherst, she went on to pursue law at Harvard Law School, where she earned her Juris Doctor (JD). This combination of economics and legal training equipped her with a deep understanding of both financial systems and regulatory frameworks, which later guided her work in government and public service.
Sarah Bloom Raskin Early Career
Before joining public office, Raskin built a strong legal and policy background. She began her career as an associate at Arnold & Porter, a major Washington, D.C. law firm, where she worked on financial, regulatory, and economic issues.
She later served as counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where she advised on key economic and banking legislation, an experience that shaped her understanding of the financial system and consumer protection.
Sarah Bloom Raskin Public Service Career
Here is a detail of her public service career.
1. Commissioner of Financial Regulation for Maryland (2007–2010)
Raskin’s first major leadership position was as Commissioner of Financial Regulation for the State of Maryland.
In this role, she was known for protecting consumers during the 2008 financial crisis, ensuring fair lending practices, and holding financial institutions accountable. Her leadership helped stabilize Maryland’s financial sector during one of the most difficult economic periods in modern history.
2. Member of the Federal Reserve Board of Governors (2010–2014)
In 2010, President Barack Obama appointed her to the Federal Reserve Board of Governors, where she became one of the few women to serve in that powerful role.
At the Fed, she focused on:
- Consumer protection and financial stability
- The economic recovery after the Great Recession
- Making the financial system more transparent and resilient
During her tenure, she also emphasized stronger oversight of large financial institutions and highlighted the importance of monitoring systemic risk within the U.S. banking system.
Her work earned her a reputation as a thoughtful, reform-minded policymaker.
3. U.S. Deputy Secretary of the Treasury (2014–2017)
In 2014, Obama nominated Raskin to become the Deputy Secretary of the U.S. Treasury, the second-highest position in the department.
She oversaw:
- Economic policy development and implementation
- Cybersecurity in financial systems
- Financial inclusion and innovation
As Deputy Secretary, she played a key role in managing domestic financial policy operations and coordinating regulatory priorities across federal financial agencies.
She also advocated for climate and sustainability considerations in financial decision-making, years before it became a major policy focus.
Academic Work and Policy Leadership
After leaving government service in 2017, Raskin turned to academia. She joined Duke University School of Law as the Colin W. Brown Distinguished Professor of the Practice of Law and a Senior Fellow at the Duke Center on Risk.
Her academic work frequently explores the relationship between financial regulation and climate change, particularly how environmental risks can impact financial institutions and long-term economic stability.
At Duke, she has continued her work on financial regulation, focusing on climate-related financial risk, cyber resilience, and sustainable economic policy. She also serves on corporate and nonprofit boards, including The Vanguard Group, where she contributes her expertise in financial governance.
In 2022, President Joe Biden nominated her to return to the Federal Reserve as Vice Chair for Supervision, a powerful regulatory post. However, she later withdrew her nomination following political opposition related to her climate-risk advocacy.
Sarah Bloom Raskin’s Husband and Kids
Sarah Bloom Raskin is married to Jamie Raskin, a U.S. Congressman representing Maryland’s 8th congressional district and a prominent member of the House Judiciary Committee. Raskin and Jamie have two daughters, Hannah and Tabitha, and had a son, Thomas (Tommy), who tragically passed away in 2020.
According to WJLA, Tommy died by suicide on the last day of December and wrote a note for his family:
“Please forgive me. My illness won today. Please look after each other, the animals, and the global poor for me. All my love, Tommy.”
She is known for her strength, intellect, and compassion. Raskin has often spoken about the importance of empathy in leadership, a quality reflected in both her public service and personal life.
Sarah Bloom Raskin Legacy and Impact
Throughout her career, Sarah Bloom Raskin has been recognized as a trailblazer in financial regulation and a champion of economic fairness. Her influence spans the state, federal, and academic levels, always guided by the belief that financial systems should serve the people, not the other way around.
Her influence extends beyond specific policy roles, as she has contributed to broader debates on financial ethics, regulatory accountability, and the evolving responsibilities of central banks.
Her legacy lies in her efforts to create a more resilient, transparent, and inclusive economy, as well as in paving the way for women in top economic and regulatory roles in the United States.
- Named one of Washington’s Most Powerful Women by several publications.
- Recognized for her leadership in financial reform and economic resilience.
- Frequently invited to speak at universities and policy forums on finance, law, and sustainability.
What is Sarah Bloom Raskin’s Net Worth?
Sarah Bloom Raskin’s net worth is estimated to be around $5 million. Her wealth primarily comes from her long career in public service, law, and financial regulation.
She has held high-profile roles such as:
- Former Deputy Secretary of the U.S. Treasury
- Former Federal Reserve Governor
- Former Maryland Commissioner of Financial Regulation
Along with her government salaries, her experience in academia, advisory roles, speaking engagements, and legal work have also contributed to her overall financial standing.
Final Words on Sarah Bloom Raskin
Sarah Bloom Raskin’s career reflects steady public service, academic leadership, and long-term commitment to financial policy. While her estimated net worth of around $5 million offers a general picture of her professional success, her contributions go far beyond income.
Alongside her husband, Congressman Jamie Raskin, she continues to play an important role in discussions about law, financial systems, and the future of economic regulation. Her story offers a strong example of dedication, expertise, and public responsibility.
People Also Ask
Sarah Bloom Raskin is 64 years old, as she was born on April 15, 1961.
Currently, she works as the Colin W. Brown Distinguished Professor of the Practice of Law at Duke University.
Raskin is regarded as one of the most influential women in U.S. financial policy, known for combining economic expertise with a strong commitment to fairness, accountability, and protecting consumers.
She serves on the board of directors of the Vanguard Group Inc and as a trustee/member of the Board of Directors of the Vanguard Funds.
Yes, she has served on the board of The Vanguard Group and has contributed her expertise in financial governance and risk oversight.
