Senate leaders strive to vote on Bernanke before his term ends

01/14/2010 | Bloomberg

Senate leaders are trying to hold a confirmation vote before Federal Reserve Chairman Ben Bernanke's term ends Jan. 31. A delay in Mr. Bernanke's confirmation would probably lead to Vice Chairman Donald Kohn acting as chairman temporarily. "Bernanke is not the kind of person who would want to get into a legal battle over a few months, or maybe even a few weeks, awaiting Congress' decision," said Lyle Gramley, senior economic adviser to Soleil Securities and a former Fed governor. "He would be glad to defer to Don Kohn as acting chair for whatever period of time it took Congress to make up its mind."

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