Bernanke confirmation hearing to be Dec. 3

WASHINGTON, Nov. 20 (UPI) -- The U.S. Senate Banking Committee said Friday Federal Reserve Chairman Ben Bernanke will appear before it Dec. 3 for a confirmation hearing.

The New York Times reported Bernanke is not expected to have any serious trouble winning a second four-year term, though the Federal Reserve has been criticized for not heading off the financial crisis that hit the nation, sending it into recession.

Banking Chairman Christopher Dodd, D-Conn., who has faulted the Fed in the past, now gives Bernanke good grades for dealing with the financial problems, the Times said.

Still, on Thursday the U.S. House Financial Services Committee approved a measure to give Congress wide-ranging oversight of the Fed, including its handling of monetary policy.