{"id":225632,"date":"2010-01-25T09:01:07","date_gmt":"2010-01-25T14:01:07","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/01\/25\/does-harry-reid-want-something-from-the-fed-for-his-vote\/"},"modified":"2010-01-25T09:01:07","modified_gmt":"2010-01-25T14:01:07","slug":"does-harry-reid-want-something-from-the-fed-for-his-vote","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/225632","title":{"rendered":"Does Harry Reid Want Something From the Fed For His Vote?"},"content":{"rendered":"

By Sudeep Reddy and Jon Hilsenrath<\/em><\/p>\n

Senate Majority Leader Harry Reid<\/strong>\u0092s tepid endorsement of Fed chairman Ben Bernanke<\/strong> on Friday left some investors queasy. Mr. Reid said his support for Mr. Bernanke was conditional. \u0093To merit confirmation, Chairman Bernanke must redouble his efforts to ensure families can access the credit they need to buy or keep their home, send their children to college or start a small business.\u0094 He added that he expected an announcement from the Fed chairman on this issue soon.<\/p>\n

Vincent Reinhart<\/strong>, an economist at the American Enterprise Institute<\/strong> and former Fed staffer, called the statement a \u0093death trap\u0094 for the Fed because it suggests that the senator wanted something in return for his vote. Any acknowledgment or action by the Fed could be seen as a breach of its independence.<\/p>\n

We asked Mr. Reid\u0092s office to elaborate. His spokesman, Jim Manley, said the Senate majority leader, who is in a tough reelection battle in Nevada, was “fighting for his constituents.” Does that mean Mr. Reid\u0092s vote is dependent on some action by the Fed to help homeowners, college-bound students or small businesses?<\/p>\n

Mr. Manley said Sen. Reid does “not necessarily” expect any particular action before the vote. What are the “plans” that the Fed chairman said he would outline? Mr. Manley said the senator was looking for “additional efforts to help homeowners in Nevada” from the \u0093Fed and the federal government.” He noted that the rest of Mr. Reid’s statement pledges support for Mr. Bernanke and also that Mr. Reid had talked to the president Saturday and is working to get additional votes for the Fed chairman.<\/p>\n

A spokeswoman for the Fed declined to comment.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

By Sudeep Reddy and Jon Hilsenrath Senate Majority Leader Harry Reid\u0092s tepid endorsement of Fed chairman Ben Bernanke on Friday left some investors queasy. Mr. Reid said his support for Mr. Bernanke was conditional. \u0093To merit confirmation, Chairman Bernanke must redouble his efforts to ensure families can access the credit they need to buy or […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-225632","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/225632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=225632"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/225632\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=225632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=225632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=225632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}