US Republican Senator Graham To Support Fed's BernankeSubmitted by BFrank on Mon, 01/25/2010 - 22:40
US Republican Senator Graham To Support Fed's Bernanke
WASHINGTON -(Dow Jones)- U.S. Senator Lindsey Graham (R-SC) will support Ben Bernanke for a second term as chairman of the Federal Reserve, the senator's spokeswoman Meghan Hughes said Monday.
The White House escalated efforts over the weekend to help win the 60 votes needed for Bernanke's confirmation, but opposition by some Democratic senators means the Fed chairman needs all the Republican support he can get.
As of 11 a.m. EST Monday, 35 senators were publicly committed to voting for Bernanke, with 17 opposed, according to a Dow Jones Newswires survey. Of the 35 in favor, 24 are Democrats or Independents and 11 are Republicans.
The Senate is expected to vote before Bernanke's four-year term expires Jan. 31.