While Sen. Barbara Boxer said last week she wouldn't back Ben Bernanke's bid for another term as the chairman of the Federal Reserve, Sen. Dianne Feinstein made it clear this morning that she's sticking by the current chair, whose term expires Jan. 31.
"I believe it would be a mistake not to reconfirm Ben Bernanke as Chairman of the Federal Reserve. To blame one man for the financial implosion is simply wrong. ... Ben Bernanke has been helpful to the recovery and, for reasons of stability and continuity, should be reconfirmed. I support him fully." she said in a statement.
The ongoing recession and the multi-billion-dollar bailout of the nation's banks has put Bernanke in the hot seat. Bernanke's reconfirmation fate appeared unclear last week, but several key senators are now suggesting that he has the votes to be appointed to a second term.