The Biden administration said job numbers and consumer spending remain strong.
Treasury Secretary Janet Yellen also committed in a recent meeting with President Biden to staying in her role.
Stubbornly high inflation has been a drag on Democrats' prospects heading into the November midterm elections.
Biden is poised to announce a sweeping package of student-debt relief.
Some deficit hawks have expressed concern that broad relief would worsen inflation.
Raskin blamed “relentless attacks by special interests” on her views on climate change.
Treasury Secretary Janet Yellen views the White House plan for an executive order as unnecessary.
Republicans have questioned vice chair nominee Sarah Bloom Raskin's previous role as a director of Reserve Trust
President Biden's nominations would result in a first: four women and two Black governors serving at the same time.
Sen. Manchin balked a trillions of dollars in new spending potentially increasing inflation and deficits.
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