Grassley to vote no on Bernanke

The top Republican on the Senate Finance Committee said Wednesday that he will vote against Federal Reserve Chariman Ben Bernanke's nomination for a second term. 

Sen. Chuck Grassley (Iowa) cited concerns about inflation and what he says is a lack of accountability at the Fed.

"I'll vote no because of concerns about inflation and the pattern of resistance to accountability," Grassley said in a news conference with Iowa reporters.

A cloture vote on Bernanke's reconfirmation is scheduled for Thursday. After doubts about his confirmation crept up last week, observers now predict that Bernanke will win a second term. 

Because several Democratic and Republican senators have placed holds on Bernanke's reconfirmation, he needs 60 votes in order to earn a second term. 

Senators from both sides of the aisle have voiced deep concern about the Fed chairman, questioning his role in the banking bailouts in 2008.