That’s the percentage of senators on the Banking Committee in 2010 who voted to confirm Janet Yellen for vice chair of the Federal Reserve.
President Barack Obama yesterday nominated Yellen to succeed Ben S. Bernanke as Fed chairman.
“America’s workers and their families will have a champion in Janet Yellen,” Obama said yesterday, Bloomberg’s Margaret Talev reported.
Yellen, who would become the first woman to lead the Fed, is expected to win confirmation in a Senate that Democrats control by 54 to 46. The Banking Committee will first vet her nomination.
“I’m a big fan of Janet Yellen,” Sen. Elizabeth Warren of Massachusetts, one of 12 Democrats on the 22-member Banking Committee, said on Bloomberg Television last month.
Several Republicans on the Banking Committee said yesterday “their concerns over the Federal Reserve’s bond-buying program — known as quantitative easing — could cause them to vote against confirming Yellen,” Bloomberg’s Kathleen Hunter and Cheyenne Hopkins reported.
In 2010, all 13 Democrats and four of 10 Republicans then on the Banking Committee voted to confirm Yellen for Fed vice chairman. Eight of those 13 Democrats are on the panel today. They are committee chairman Tim Johnson of South Dakota, Jack Reed of Rhode Island, Chuck Schumer of New York, Robert Menendez of New Jersey, Sherrod Brown of Ohio, Jon Tester of Montana, Mark Warner of Virginia and Jeff Merkley of Oregon.
Five Republicans who voted on Yellen in 2010 are still on the Banking Committee. They are top-ranking committee Republican Mike Crapo of Idaho, Richard Shelby of Alabama, Bob Corker of Tennessee, David Vitter of Louisiana and Mike Johanns of Nebraska. All opposed Yellen except for Johanns.
Bernanke’s term as Fed chief expires in January. The Senate voted 70-30 in January 2010 to confirm Bernanke for a second term.