Panel Affirms Bernanke to Full Senate for Fed Chair

Click here to write a Letter to the Editor.

he Senate Banking Committee Wednesday recommended confirmation of Ben Bernanke to head the Federal Reserve, the Associated Press reported.

The committee by voice vote recommended Bernanke’s confirmation to the full Senate. If confirmed, he would succeed Alan Greenspan, the Fed’s chairman since 1987, in the post.

Bernanke, 51, is a former Princeton professor and Fed governor who now chairs the White House Council of Economic Advisers.

“Dr. Bernanke is eminently qualified and a superb choice for the nomination of Federal Reserve chairman," said Banking Committee Chairman Richard Shelby (R-Ala.).

Sen. Jim Bunning (R-Ky.) was the only senator present voicing opposition to Bernanke. Bunning cited concerns that the nominee would be too much in the mold of Greenspan and not a sufficiently independent thinker, AP reported.