The top U.S. derivatives regulator may dwindle to just two voting commissioners and struggle to approve new rules unless the White House and Senate can overcome political hurdles to fill the vacancies by the end of the year.
U.S. Senate Republicans, whose votes President Barack Obama will need to approve his pick for Federal Reserve chairman, have adopted an unofficial strategy: stand on the sidelines and watch the Democrats feud.
The fiscal showdown in Washington entered its final stages as the House and Senate prepared competing plans that would end the 15-day-old government shutdown and prevent the U.S. from missing promised payments.
Senate Majority Leader Harry Reid rejected a House plan to halt the fiscal impasse, as he tried to build support for an emerging bipartisan Senate agreement to end the government shutdown and prevent a U.S. default.
Richard Fisher, president of the Federal Reserve Bank of Dallas, said the White House botched the nomination for Chairman Ben S. Bernanke’s successor by allowing an unprecedented public debate over who would be the best choice.
Senate Majority Leader Harry Reid rejected a House plan to halt the fiscal impasse, as Senate leaders put on hold bipartisan talks aimed at ending the 15-day- old government shutdown and preventing a default.