A Senate vote on Federal Reserve Board Chairman Alan Greenspan's reappointment, as well as two other Fed nominations, is being held up by Sen. Tom Harkin, D-Iowa.
An aide to Sen. Harkin said Wednesday the lawmaker wants Republican leaders to allow debate on Mr. Greenspan's performance. Democratic lawmakers have complained frequently that the Fed chairman's tight monetary policy hurts economic growth. "The nomination of Alan Greenspan is too important not to have debate," the aide said.
Last month, the Senate Banking Committee approved Mr. Greenspan's appointment to a third four-year term. Senate Republicans attempted to bring nominations of Mr. Greenspan, Alice M. Rivlin, and Laurence H. Meyer to a vote on the Senate floor March 29, but were thwarted by Sen. Harkin. Debate on the nominations has not been scheduled.