Sen. Dodd Praises Fed Chief As ‘Activist’

Senate Banking Committee Chairman Christopher Dodd (D., Conn.) had high praise for Federal Reserve Chairman Ben Bernanke, saying the central bank chief has been a responsive advocate for consumers during the recent credit turmoil.

Dodd

“I thought Ben Bernanke, I don’t want to use the word ‘progressive’ and ruin his career, but he’s been an activist on issues” that consumer groups, homeowners, and others “wrestle with every day,” Sen. Dodd said in an interview.

Separately, Sen. Dodd said his initial impressions of Steve Preston, the White House’s nominee to lead the U.S. Department of Housing and Urban Development, are favorable. The two met recently and Sen. Dodd could have a hearing on Mr. Preston’s nomination as soon as next week.

“I’ve heard good things,” Sen. Dodd said. “I was impressed by him.” –Damian Paletta