Saturday, January 16, 2010

Senate Vote on Bernanke Re-Nomination, Just Ahead

The US Senate hopes to hold its vote on Federal Reserve Chairman Ben Bernanke's nomination for a second term before his current term ends in two weeks, a spokesman for Senate Majority Leader Harry Reid said yesterday.

The vote won't be coming even a day too soon as far as Bernanke is concerned.

The longer it is drawn out, the more chances for defections from those who plan to vote in favor of his re-nomination. As it stands now, four Senators plan to use Senate procedures to block the vote. The blocks are likely, however, only to delay the vote rather than kill it.

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