Dodd Says Senate May Not Bother to Confirm Federal Reserve Board Nominees


Hard to tell if the problem here is the message or the messenger, but either way it’s not good:

“We’ve got a limited amount of time here, I don’t know if there’s going to be any appetite to deal with these Fed nominees,” Dodd said.

I think I’ve shouted myself hoarse about the importance of these nominees already, but just to underscore it the Federal Reserve controls the economy. And it’s “independent.” But like the Supreme Court, the President gets to pick who sits on the Board of Governors. This is an important power. Appointing good people and getting them confirmed is really important.

Meanwhile, on the “limited amount of time” note how insane the Senate is. A sane legislative body could easily vote on three nominees in twenty minutes if it’s in a rush. If the Senate wants to take more time to actually debate, that would be nice too. But these nominees have been on the table since April and nobody seems to have anything to say about them. So just vote!