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Jeff Merkley to Vote Against Bernanke Confirmation

Sen. Jeff Merkley (D-OR)

Sen. Jeff Merkley (D-OR)

Sources tell FDL News that Sen. Jeff Merkley (D-OR), a member of the Senate Banking Committee, will vote against Ben Bernanke’s nomination for a second term as Chair of the Federal Reserve.

Merkley said last week that he was “wrestling” with the decision on Bernanke, arguing that he has “completely missed the boat” on a range of issues, particularly with respect to consumer protection.

Bernanke just received Time’s Person of the Year honor this morning. The vote in the Senate Banking Committee is expected tomorrow. Despite Merkley’s opposition, most observers believe Bernanke has the votes to pass out of committee. However, at least five Senators have placed a hold on a Senate floor vote, with many of them blocking the nomination until they get a standalone vote on auditing the Federal Reserve.

Merkley is expected to release a statement shortly explaining his decision. Senator Merkley’s statement after the jump.

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