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Senate won't vote on Bernanke this week

The US Senate will not vote until next week at the earliest on thenomination of Ben Bernanke to a second term as Federal Reserve chief,aides to the Democratic majority say.

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Source: AFP


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The US Senate will not vote until next week at the earliest on the nomination of Ben Bernanke to a second term as Federal Reserve chief, aides to the Democratic majority say.

Bernanke, who has faced sharp criticism over his role in the 2008 global financial meltdown, was still expected to be confirmed by the senate, most likely before his term runs out at the end of the month, said one official.

Senate Democratic Majority Leader Harry Reid was expected soon to start the process of ending debate on the nomination, triggering a process that would culminate with a final vote next week.

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A small group comprising Democrats and Republicans has fought against Bernanke's confirmation, demanding greater accountability from the Fed and assailing his oversight in the years leading up to the 2008 crisis.


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