Senate Votes in Favor of Bernanke

SUDEEP REDDY
The Wall Street Journal
January 28, 2010

[efoods]The Senate voted 77-23 to end debate on the nomination of Ben Bernanke for a second four-year term as chairman of the Federal Reserve, clearing the way for a final vote later today in which Mr. Bernanke is expected to prevail.

During more than two hours of debate on the Senate floor, Bernanke backers warned that voting him down risked sparking turmoil in U.S. and foreign markets and thwarting a budding economic recovery. They said the Fed chairman deserved an opportunity to finish what he started.

“To vote against confirmation could unnerve investors and exacerbate economic uncertainty in the marketplace, which is exactly what we do not need at this time,” said Sen. Robert Menendez, Democrat of New Jersey. “We need the wisdom of patience,” he said. “Let us not judge the man or the work prematurely.”

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