Senate Banking Committee endorses Bernanke as Fed chairman

WASHINGTON (Nov. 16, 2005) — By a voice vote in which only one member dissented, the Senate Banking Committee has endorsed the nomination of Ben Bernanke as chairman of the Federal Reserve.

Mr. Bernanke's nomination now goes to the full Senate for a vote.

Mr. Bernanke, chairman of the White House Council of Economic Advisers and former chairman of the economics department at Princeton University, would succeed long-serving Fed Chairman Alan Greenspan, who retires Jan. 31.

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