Federal Reserve Chairman Ben Bernanke confirmed for second term
January 29th, 2010 - 3:24 pm ICT by BNO NewsWASHINGTON, D.C. (BNO NEWS) – Ben Bernanke on Thursday was confirmed by the U.S. Senate for a second term as the chairman of the Federal Reserve.
Bernanke’s confirmation was victory for the Obama administration, who had called Mr. Bernanke a significant leader in the nation’s recovery from the recession. He was confirmed for a second term by a vote of 70-30, the least support of any nominee for the position.
In August 2009, President Obama said “Ben approached a financial system on the verge of collapse with calm and wisdom, with bold action and out-of-the-box thinking that has helped put the brakes on our economic free fall.”
Bernanke was sworn in on Feburary 1, 2006, as Chairman and a member of the Board of Governors of the Federal Reserve System. He was appointed as a member of the Board to a full 14-year term, which expires January 31, 2020, and to a four-year term as Chairman, which would have expired January 31, 2010, but he will continue for a second term.
Bernanke was named Time Magazine’s Person of the Year 2009.
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