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WASHINGTON (Reuters) - Republican Senator John McCain said on Monday he will vote against the nomination of Ben Bernanke to serve another term as chairman of the U.S. Federal Reserve.
In a statement, McCain said he appreciated Bernanke's service but "I believe that he must be held accountable for many of the decisions that contributed to our financial meltdown."
"Therefore, I plan to oppose Chairman Ben Bernanke's confirmation for a new term as Federal Reserve chairman," he said.
McCain, who is up for re-election this year in his home state of Arizona, had been leaning against Bernanke, who is facing a tight Senate vote on his confirmation but seems likely to be approved.
Reporting by Steve Holland; Editing by John O'Callaghan