Bernanke nominated to remain as Federal Reserve chairman

by Richard Kilner

Story link: Bernanke nominated to remain as Federal Reserve chairman

US President Barack Obama has confirmed that Ben Bernanke, chairman of the Federal Reserve, has been granted the post for another term.

Bernanke has been praised by the president for his actions bailing out US banks and helping to stave off the worst effects of the financial crisis.

President Obama went so far as to state that the chairman had managed to see off a repeat of the Great Depression that did so much damage to the US economy in the years before the Second World War.

Bernanke has thanked the president for both the nomination and his unwavering support.

The Federal Reserve’s chairman has also paid tribute to his colleagues in the US central bank, and thanked his family for their support during his tenure in a particularly difficult time for the US and world economy.