A senate panel approved Federal Reserve Chairman, Ben Bernanke’s nomination for another four years as head of the nation’s central bank on Thursday. The Banking Committee voted 16-7 in favor of the 56-year-old, sending his nomination to the complete Senate for their authorization.
While many are pleased with the outcome, others are up in arms about the nomination, blaming Bernanke for failing to recognize some of the early indicators of the financial crisis. Senator Bernie Sanders of Vermont, whose single-payer health care plan was rejected yesterday, is among these. The Senator called for a hold on the nomination that would require a super majority of 60 votes for Bernanke to continue as Chairman after his term ends on Jan 31.
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