White House Assured Bernanke Vote On TrackJanuary 24, 2010 @ 10:43 AM EST
Political Update: White House Assured Bernanke Vote On Track
Reuters is reporting that the White House has been assured by Senators that Bernanke is on track for renomination.
David Axelrod told CNN’s “State of the Union” program, “The President is very confident that the chairman will be confirmed.”
"We're still in a fragile state here, even though the economy is growing, and we need his leadership," Axelrod said. "He has been a very steady hand in this crisis. He's taken initiatives that have been important in terms of stabilizing the economy."
Mitch McConnell, the Senate's top Republican, told "Meet the Press" on Sunday that he believed Bernanke would win support from both sides. However, he would not commit to whether or not he would vote for confirmation of Bernanke.
Some Republicans have moved to block Bernanke's confirmation, forcing Senate leaders to secure a super-majority of 60 votes in the 100-member chamber to move the nomination.
"I think we need a fresh start," Republican Senator John Cornyn told Fox News Sunday, saying he would oppose Bernanke.
Bernanke’s term expires on January 31st. If not confirmed by that time, the Fed’s Vice Chairman Donald Kohn, who has spent most of his career at the Fed, would take over on an interim basis.
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