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Durbin meets with Bernanke; will back confirmation with reservations

Below, release from Durbin….

Assistant Senate Majority Leader Dick Durbin (D-IL) today met with Federal Reserve Chairman Ben Bernanke to discuss Federal Reserve policy and Bernanke’s upcoming confirmation vote, which is expected to take place this week. He then discussed the meeting with assembled press.

Over the weekend, Durbin announced that he will support Bernanke’s nomination to a second term as Chairman of the Federal Reserve, but expressed concern about a lack of transparency and accountability in current Fed policies. Durbin also announced that if the Fed refuses to exercise its authority to demand meaningful bank reforms, he would join with other Members of Congress to push for new laws to achieve those goals.