Bernanke Reconfirmation on a Toss-Up

The man who was considered to have helped the United States during the most tumultuous parts of the global financial crisis is in doubt of whether he will get a second term as the chairman of the Federal Reserve (headquarters pictured).Federal-Reserve-Board-Building

Two Democratic Senators have said that they oppose reinstating Ben Bernanke to the post Friday, January 22.  The number who opposed him is now at 15 after Senators Barbara Boxer (D-Calif) and Russ Feingold (D-Wis) gave their negative vote. The number who will support him is at 27 after Democratic John Kerry (D-Mass.) and Majority Leader Harry Reid (D-Nev.) gave positive votes.

The remaining 58 senators has not yet decided. Bernanke needs 60 votes for a second term.

“Our next Federal Reserve chairman must represent a clean break from the failed policies of the past,” Boxer said. “It is time for Main Street to have a champion at the Fed.”

“Chairman Bernanke has done an excellent job responding to one of the most significant financial crises our country has ever encountered,” said in a joint statement by senate banking committee Chairman Christopher J. Dodd (D-Conn.) and Sen. Judd Gregg (R-NH) who is also on the committee.

Bernanke is the 14th Federal Reserve Chairman and his current term ends January 31. He was named as Time Magazine’s Person of the Year for 2009.