White House backs Fed chief Ben Bernanke
This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.
President Obama continues to support Ben Bernanke for another term as chairman of the Federal Reserve, the White House said today, amid some senators’ unhappiness with the nomination.
Obama, who arrived this morning in Ohio carrying a populist message, remains confident in Bernanke, White House spokesman Bill Burton told reporters on Air Force One.
“As he has said before, the president has a great deal of confidence in what Chairman Bernanke did to bring our economy back from the brink,” Burton said.
“He continues to think he is the best person for the job and will be confirmed by the United States Senate.”
Bernanke’s current four-year term is over at the end of the month. the Fed chief met Thursday with Majority Leader Harry Reid of Nevada to discuss a vote that requires 60 votes for cloture and a majority for final confirmation.
The Senate Banking Committee approved Bernanke 16-7 last month, but the Fed chairman has opponents on the left and the right.
Sen. Bernie Sanders, a Vermont independent who votes with Democrats, is the leading left critic of Bernanke and his role in saving the financial system. He is backed by several Democrats.
On the conservative side, Sen. Jim DeMint of South Carolina is among the Republicans opposing Bernanke for many of the same reasons as Sanders.
-- Michael Muskal
RELATED:
Barbara Boxer: Time for Ben Bernanke to go
Will Fed chief Ben Bernanke be the latest victim of the Scott Brown revolution?
