Friday, January 22, 2010
The Wall Street Journal reports that Senators Russ Feingold (D-WI) and Barbara Boxer (D-CA) have announced their intentions to vote against confirming Fed chairman Ben Bernanke if and when the vote is brought to the full Senate.
This prompts the question of how many other elected officials will also see a 'No' vote as being in their best (political) interest after the stunning results in Massachusetts on Tuesday. Outgoing Senate Banking Committee Chairman Chris Dodd (D-CT) said that if Bernanke is not confirmed, all hell will break loose. Well, not exactly. What he said was this:
I think if you wanted to send the worst signal to the markets right now in the country and send us in a tailspin, it would be to reject this nomination. This is not naming someone to be an assistant secretary to something. This is the most important central banker in the world.A Journal poll shows only a slight margin in favor of reappointment as shown below
It will be an interesting week ahead for the Fed chairman whose term expires on Jan. 31st.