Dodd, Gregg Confident Senate Will Confirm Bernanke

Posted January 23, 2010 at 1:33pm

Senate Banking, Housing and Urban Affairs Chairman Chris Dodd (D-Conn.) and senior
member Judd Gregg (R-N.H.) issued a rare joint statement Saturday, voicing their
support of embattled Federal Reserve Chairman Ben Bernanke and predicting that he will
be confirmed for a second term.



“In the last few days there have been a flurry of media reports on Chairman
Bernanke’s confirmation prospects, highlighting a very vocal opposition,” the
statement read. “Chairman Bernanke has done an excellent job responding to one of the
most significant financial crises our country has ever encountered. We support his
nomination because he is the right leader to guide the Federal Reserve in this
recovering economy.”



A growing number of Senate liberals, including Sens. Barbara Boxer (D-Calif.) and
Russ Feingold (D-Wis.), have said they will not vote to confirm Bernanke for a second
term. However, Majority Leader Harry Reid (D-Nev.) threw his endorsement behind the
nominee Friday in a move aimed at rousing support in the Senate for
confirmation.



Appointed in 2005 by president George W. Bush and renominated last year by President
Barack Obama, Bernanke’s current four-year term as Fed chief expires Jan. 31. His
nomination is the subject of several holds that will likely require 60 votes to break
through procedural motions.



On Saturday, Dodd and Gregg said the Senate will meet that mark.



“Based on our discussions with our colleagues, we are very confident that Chairman
Bernanke will win confirmation by the Senate for a second term,— the Banking duo
said.

Banking, Housing and Urban Affairs ranking member Richard Shelby (R-Ala.) opposes
confirming Bernanke for a second term.