Bernanke's Confirmation Gets New Life
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After losing key support last week for confirmation for a second term as Chairman of the Federal Reserve, Ben Bernanke's luck appears to be turning with the White House pushing hard to get him the 60 votes needed.
A recent survey from Dow Jones Newswires shows that 31 senators were publicly committed to voting for Mr. Bernanke, with 17 opposed. A number of Washington insiders now say Bernanke will get the votes.
It is being reported that President Obama, Treasury Secretary Tim Geithner, Chief of Staff Rahm Emanuel and White House economic coordinator Lawrence Summers, made phone calls to key senators over the weekend in support of Bernanke.
Senate Majority Leader Harry Reid has come out in favor of Bernanke after first refusing to commit. Senator John Kerry is also expected to vote in favor of Bernanke.
Coming out of the worst financial crisis since the Great Depression, the public's faith in the Federal Reserve system is shaky and politicians appear to using the outrage to boost their own support.
A recent survey from Dow Jones Newswires shows that 31 senators were publicly committed to voting for Mr. Bernanke, with 17 opposed. A number of Washington insiders now say Bernanke will get the votes.
It is being reported that President Obama, Treasury Secretary Tim Geithner, Chief of Staff Rahm Emanuel and White House economic coordinator Lawrence Summers, made phone calls to key senators over the weekend in support of Bernanke.
Senate Majority Leader Harry Reid has come out in favor of Bernanke after first refusing to commit. Senator John Kerry is also expected to vote in favor of Bernanke.
Coming out of the worst financial crisis since the Great Depression, the public's faith in the Federal Reserve system is shaky and politicians appear to using the outrage to boost their own support.
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Ben S. Bernanke, Timothy Geithner, Barack ObamaSign up for StreetInsider Free!
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