Bernie Sanders Places Hold on Bernanke NominationSubmitted by Michael Nystrom on Thu, 12/03/2009 - 01:08
WASHINGTON (MarketWatch) -- Sen. Bernie Sanders placed a hold Wednesday on the nomination of Ben Bernanke for a second four-year term as chairman of the Federal Reserve, saying it's time for a change in economic policies.
Sanders' hold could delay the vote on Bernanke's confirmation, but likely won't derail it. The hold means the Democratic leadership would need at least 60 senators to agree to bring the nomination to a vote, instead of the 50 needed without the hold.
Bernanke will testify at a confirmation hearing at the Senate Banking Committee on Thursday. Sanders is not a member of the committee.