The Senate will vote June 20 on the pending nominations of Federal Reserve Chairman Alan Greenspan and two other Fed appointees under a bipartisan deal worked out Thursday.
Sen. Tom Harkin, D-Iowa, agreed to end a four-month standoff that had blocked a vote on Mr. Greenspan's third four-year term and the nominations of Alice Rivlin and Laurence Meyer to be Fed governors. Declaring victory, Sen. Harkin dropped his opposition to the vote after Republican leaders agreed to allow three days of debate on the nominees next week.
Sen. Harkin has repeatedly criticized Mr. Greenspan for pursuing low inflation at the expense of economic growth. "The Greenspan Fed has stifled economic growth and incomes of Americans," he said.
Republicans had resisted demands for a debate, arguing that Democrats were interested only in election-year grandstanding.