The U.S. Senate has voted in favor of a second term for Federal Reserve Chairman Ben Bernanke. The vote, which required a 60-vote majority in the 100-member Senate, was 70-30 – the closest vote ever for a Fed Chairman nominee.
Idaho Senator Mike Crapo was opposed to a second term for Bernanke in committee and followed through with a no vote Thursday when the full Senate made its decision.
US Senator Mike Crapo (R-Idaho) explains his “no” vote
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Idaho Senator Jim Risch also voted against a second term. Bernanke’s detractors say he missed signs of an impending financial crisis.
Supporters say he helped avoid a deeper crisis by using countermeasures to stabilize the financial system. His term was set to end Sunday.
