Sen. Chris Dodd, a Democrat from Connecticut, announced Thursday that he will maintain his chairmanship of the Senate Banking Committee in the upcoming Congressional session.
Rumors had circulated that Dodd might give up the post to seek the chair of either the Senate Foreign Relations Committee or the Health and Education Committee. Dodd is a senior member of both committees.
But with the financial crisis threatening to drag the economy into a protracted recession, the Senate Banking Committee will be on the front lines of the government’s efforts heal the housing and financial markets. As the top lawmaker on the panel, Dodd stands to boost his influence and raise his profile.
“As a United States Senator from Connecticut, there is no more important way right now that I can serve the people of Connecticut and our country than as Banking Committee Chairman,” Dodd said in a statement Thursday. “In this role, at this moment, I am confident I can do the greatest good for our nation – and create lasting change for millions of Americans.”