The White House voiced confidence on Sunday the Senate would approve a second term for Federal Reserve Chairman Ben Bernanke, whose prospects appeared shaky last week, and Senate Democrats hoped to hold the vote this week, Reuters reported. Last week, two Senate Democrats announced their opposition, and uncertainty on Bernanke's confirmation rattled investors, contributing to the worst three-day slide for U.S. stocks in 10 months. Concerned about the surge of opposition to Bernanke's renomination, President Barack Obama contacted the Democratic Senate leadership on Saturday to make sure there were enough votes. "The president is very confident that the chairman will be confirmed," White House senior adviser David Axelrod said on CNN's "State of the Union" program on Sunday. "The readings he's getting from his conversations are that Chairman Bernanke will be confirmed." A spokesman for Senate Majority Leader Harry Reid said the senator hoped to have a vote to confirm Bernanke this week. Bernanke's term expires at the end of the month.
