Dodd, Gregg back Bernanke

WASHINGTON, Jan. 23 (UPI) -- Two key U.S. senators issued a bipartisan statement of support Saturday for Federal Reserve Chairman Ben Bernanke.

Sen. Chris Dodd, D-Conn., chairman of the Banking Committee, and Sen. Judd Gregg, R-N.H., a committee member, released a statement saying they are confident Bernanke will be confirmed to a second term.

"We support his nomination because he is the right leader to guide the Federal Reserve in this recovering economy," the two senators said. "Based on our discussions with our colleagues, we are very confident that Chairman Bernanke will win confirmation by the Senate for a second term."

On Friday, Majority Leader Harry Reid, D-Nev., backed Bernanke. But Sens. Russell Feingold, D-Wis., and Barbara Boxer, D-Calif., said they oppose reconfirming Bernanke as chairman, the Los Angeles Times reported Friday.

"It is time for a change," Boxer said. "It is time for Main Street to have a champion at the Fed. ... Our next Federal Reserve chairman must represent a clean break from the failed policies of the past."

Bernanke also picked up statements of support Saturday from Sen. John Kerry, D-Mass., and Sen. Richard Durbin, D-Ill., the Times reported. A spokesman said President Barack Obama had been calling senators and believes Bernanke will be reconfirmed.