Jon Tester Would Vote Against Larry Summers For Fed Chair [View all]
Source: Huffington Post
WASHINGTON -- Sen. Jon Tester (D-Mont.) will vote against Larry Summers if President Barack Obama nominates his former economic adviser to head the Federal Reserve, Reuters reported Friday, citing Tester spokeswoman Andrea Helling.
Three progressive, bank-reform oriented senators are already expected to oppose Summers if he is nominated: Sens. Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.) and Sherrod Brown (D-Ohio). All three serve on the Senate Banking Committee, which would have to approve any nominee for Federal Reserve chair before sending the vote to the Senate floor, as does Tester. Since Democrats only have a two-vote majority in the committee, Summers would need to pick up Republican support in the committee in order for his nomination to advance.
Tester has close ties to the bank lobby and is generally viewed as a moderate Democrat. His opposition suggests division within the banking community over a Summers pick, a scenario that would hamper Obama's ability to win over reluctant lawmakers.
Democratic leadership in the Senate have warned Obama that a Summers nomination will result in a "very tough" confirmation fight, according to a Senate Democratic aide familiar with the effort.