Reid Set to Advance Bernanke Nomination

Posted January 26, 2010 at 7:35pm

Senate Majority Leader Harry Reid (D-Nev.) was expected to file a procedural motion Tuesday on the nomination of Ben Bernanke to serve a second term as chairman of the Federal Reserve, teeing up a confirmation vote by the end of the week.

Appointed in 2005 by President George W. Bush and renominated last year by President Barack Obama, Bernanke’s current term as Fed chief expires Sunday. The Senate is expected to consider a procedural motion on Bernanke’s nomination Thursday, with a vote on confirmation Friday.

Bernanke’s nomination was endangered just last week, but a groundswell of support surfaced over the weekend after a heavy lobbying effort by Senate Democratic leaders and White House officials.