Senate likely to vote on Bernanke January 31: report

WASHINGTON (Reuters) – The U.S. Senate is likely to hold a
confirmation vote on the nomination of White House adviser Ben
Bernanke to be chairman of the Federal Reserve on January 31,
according to a report citing a Senate leadership spokesman.

A vote of approval by the full Senate is the final hurdle
Bernanke faces before he can take the reins at the U.S. central
bank. Fed Chairman Alan Greenspan’s nonrenewable term as a
member of the Fed’s board expires on January 31.

If Bernanke is confirmed, as widely expected, he would be
in place to take over the job on February 1.

The report by CQ Today, a publication of Congressional
Quarterly, cited a spokesman for Senate Majority Leader Bill
Frist, a Tennessee Republican, as saying the Senate was aiming
for a January 31 vote.

President George W. Bush nominated Bernanke, a former Fed
governor who currently chairs the White House Council of
Economic Advisers, on October 24.

The Senate Banking Committee approved the nomination on
November 16, clearing it for a final Senate vote.