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Senate votes to reappoint Bernanke
The Wall Street Journal, “Senate Votes to Confirm Bernanke”
by Sudeep Reddy
The Senate voted 70-30 to reappoint Ben Bernanke for a second four-year term as chairman of the Federal Reserve.
Earlier, senators voted 77-23 to end debate, clearing the way for a final vote. During more than two hours of debate on the Senate floor, Bernanke backers warned that voting him down risked sparking turmoil in U.S. and foreign markets and thwarting a budding economic recovery. They said the Fed chairman deserved an opportunity to finish what he started.
“To vote against confirmation could unnerve investors and exacerbate economic uncertainty in the marketplace, which is exactly what we do not need at this time,” said Sen. Robert Menendez, Democrat of New Jersey. “We need the wisdom of patience,” he said. “Let us not judge the man or the work prematurely.”
The Wall Street Journal article continues here.
White House stands firm on Bernanke
Breitbart (AFP), “White House stands firm on Bernanke”
The White House stood firm on the renomination of Ben Bernanke Monday, saying a second term for the Federal Reserve chief was vital to demonstrating stability in the US financial system.
“Chairman Bernanke helped the president and the economic team steer through some very turbulent times and rough waters,” White House spokesman Robert Gibbs said.
“I believe that it sends a signal to greater and overall stability to have his nomination approved without political games. And that’s what we expect will happen later this week.”
Breitbart (AFP) article continues here.