Reid Endorses Bernanke for Second Term

Friday, 22 Jan 2010 05:50 PM

 

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The top Democrat in the Senate has endorsed Ben Bernanke for a second term as chairman of the Federal Reserve.

Majority Leader Harry Reid says the Fed will have to do more to help struggling homeowners keep their homes and urge banks to lend to small businesses.

The Nevada Democrat's endorsement was a welcome sign for Bernanke since more and more senators in both parties have announced opposition to Bernanke or said they are undecided. Reid raised eyebrows on Thursday after issuing a statement that failed to endorse Bernanke.

Democrats had sharply criticized Bernanke for failing to police high-risk mortgages and missing the housing bubble.

 

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