Anyone else with Ben Bernanke’s track record at the Federal Reserve would likely find themselves out of a job. But unless all 30 senators who have refrained from commenting on his renomination vote no, opponents opt for a filibuster and convince 20 of those holdouts to join them or enough senators in the pro-Bernanke camp change their minds, we are looking at another four-year term for Bernanke as chairman.
For the record, here is how things are lining up, according to Bloomberg:
- Full Senate: 49 yes, 21 no and 30 who have not commented.
- Democrats 35 yes, six no, 17 not commented.
- Independents: one yes and one no.
- Republicans: 13 yes, 14 no and 13 not commented.
The fact that the GOP is abandoning Bernanke — a Bush appointee who is very much in the Alan Greenspan mode — and the Democrats are not probably says more about the need for a third party than anything.
By the way, both of New Jersey’s senators — Democrats Bob Menendez and Frank Lautenberg — are on record supporting his renomination.
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