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Obama confident of repeat Fed term for Bernanke: adviser

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AFP
Monday, January 25th, 2010

Embattled Federal Reserve Chairman Ben Bernanke will garner enough votes to win US Senate confirmation for a second term despite opposition from key Democrats, President Barack Obama’s top adviser predicted Sunday.

“The president is very confident that the chairman will be confirmed,” said adviser David Axelrod, who praised Bernanke’s handling of the recent global economic meltdown.

“Chairman Bernanke offered very strong and steady leadership during this crisis, without which we… may have slipped into the abyss. And we are still in a fragile state, although the economy is growing,” Axelrod told CNN’s “State of the Union” television program.

Several US senators have vowed to filibuster the nomination which needs 60 votes for approval. Most of the Senate’s 40 Republicans are expected to vote against Bernanke, making it all the more important for Bernanke to sew up the support of Democrats.

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This article was posted: Monday, January 25, 2010 at 5:32 am





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