Fed Chairman Bernanke Expected to Be Reconfirmed Today


Bernanke is on the hot seat, again. Since becoming the target of a brief but furious populist uprising last week, he’s been laying low: Yesterday, the chairman submitted his answers to Representative Daryl Issa’s questions about his role in the AIG bailout in writing instead of showing up to be flagellated by Congress in person, and the Fed avoided attention by voting to keep interest rates where they are, for now. But a procedural vote has been scheduled for today, which means the Democratic majority thinks he can get the votes he needs to squeak by. However, with at least 21 senators opposed to him, Reuters points out, he may get the fewest “yes” votes for any Fed chairman nominee in the 32 years that the Senate has played a role in approving the nominations. [NYT, Reuters]