Today, the Senate Banking, Housing and Urban Affairs Committee approved the nomination of Ben S. Bernanke to serve as Chairman of the Board of Governors of the Federal Reserve System by a vote of 16 to 7. Committee Chairman, Chris Dodd (D-CT), reiterated his approval of Chairman Bernanke’s nomination for a second four-year term which he originally voiced during the Committee’s nomination hearing on December 3, 2009. Chairman Dodd noted, however, that “[s]ome of the criticisms of the Fed under Chairman Bernanke that have been voiced during this confirmation process have merit.” The full Senate is expected to consider Chairman Bernanke’s nomination early next year.