Senate leaders move toward vote on Fed nominees

Reuters News
Posted: May 15, 2012 3:39 PM
Senate leaders move toward vote on Fed nominees

WASHINGTON (Reuters) - President Barack's Obama's two nominees for the Federal Reserve are likely to clear a procedural hurdle that has blocked their Senate confirmation later this week, the chamber's leaders said on Tuesday.

Senate Democratic leader Harry Reid told reporters he expected to muster the 60 votes needed to overcome a hurdle put in place by Republican Senator David Vitter. An aide said this test vote was expected on Thursday.

Senate Republican leader Mitch McConnel said he believed the two nominees - Harvard economist Jeremy Stein and investment banker Jerome Powell - would win support. "My impression is that there is bipartisan support," he told reporters.

(Reporting by Tom Ferraro and Donna Smith; Editing by Anthony Boadle)