Bernanke appointed to another term

by

Published: January 29,2010

Tags: Federal Reserve, U.S. Senate

WASHINGTON — The Senate has confirmed Ben Bernanke for a second term as chairman of the U.S. Federal Reserve.

The Senate voted 70-30 on yesterday to reappoint Bernanke amid criticism of his judgment ahead of the US financial crisis and his support for massive Wall Street bailouts. His supporters credited him for engineering a financial industry rescue in time to prevent a catastrophic collapse.

The vote was the closest ever for a nominee for Fed chairman. It came amid roiling public anger over the economy and stubbornly high unemployment that fueled a populist backlash against Bernanke. No Fed chairman has been rejected in the Senate.

Bernanke’s current term expires Sunday.

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