Bernanke Will Win Senate Reconfirmation, Republican Leader McConnell Says

Discussion in 'Economics' started by ASusilovic, Jan 24, 2010.

  1. Jan. 24 (Bloomberg) -- Senate Republican leader Mitch McConnell said he expects Federal Reserve Chairman Ben S. Bernanke will win a second term, indicating enough Republicans will join Democrats in backing the central banker.

    “He’s going to have bipartisan support in the Senate, and I would anticipate he will be confirmed,” McConnell, a Kentucky Republican, said today on NBC’s “Meet the Press.” McConnell, 67, declined to say how he would personally vote.

    Three White House officials also said today that they’re confident Bernanke will be approved. The Fed chief’s confirmation was less assured on Jan. 22 when the two top Senate Democrats signaled they were undecided and other Democrats announced their opposition.

    Separately, Senator John Cornyn, a Texas Republican, said on “Fox News Sunday” he would vote against Bernanke, while Republican Orrin Hatch of Utah and Democrat Robert Menendez of New Jersey told CNN they would support the 56-year-old Fed chief, a Republican economist first appointed by President George W. Bush four years ago.

    Bernanke’s term expires Jan. 31. President Barack Obama announced the renomination in August. A Senate vote hasn’t been scheduled.

    Obama received assurances from Senate Majority Leader Harry Reid over the weekend that Bernanke will be confirmed, White House senior adviser Valerie Jarrett said on NBC, after support among Democrats ebbed in the wake of an upset victory by Republican Scott Brown in the Jan. 19 Massachusetts special election.

    So this was a busy weekend for Wall Street lobbyists, what ?:cool:
  2. S2007S


    More fun to come with bubble Ben bernanke.
  3. Shameful
  4. Lethn


    The system is what's flawed, it's not like having a different management is going to change anything, the government proved that with the 'new' administration.
  5. Is there a spread bet at to "trade" such an event? :confused: :D
  6. Intrade has it at about 94%.
  7. Yes, by all means, let's keep the same buffoons in place. Makes perfect sense to me. Not only do we have institutions that are too big to fail, we have individuals that are too big to fail. And the beat goes on!