Bernanke to get 2nd term as Fed chief

August 25, 2009

(ChattahBox) —  President Barack Obama is expected to announce the reappointment of Ben Bernanke as chairman of the Federal Reserve on Tuesday, more than five months before the expiration of his first term.  The timing of the announcement was a surprise since the White House had vowed no news would be made during the presidents vacation. But analysts see this early move by Obama, before Bernanke’s four-year term ends on January 31, 2010 to keep financial markets that are on the upswing from any lingering worries about who might lead the Fed as the economy bounces back. Former President George W. Bush chose Bernanke to succeed Alan Greenspan, in January 2006. The reappointment of Bernanke as head of the U.S. central bank, must be confirmed by the Senate but has already been endorsed by the head of the Banking Committee, Christopher Dodd. Still the Fed chief will likely face tough questioning from senators who feel he failed to recognize the severity of the mortgage crisis and didn’t do enough to protect American consumers while leading bailouts of financial firms.



2 Responses to “Bernanke to get 2nd term as Fed chief”

  1. Posts about Barack Obama as of August 25, 2009 » The Daily Parr on August 25th, 2009 7:35 am

    […] During the Iraq war protests? How come they weren’t concerned about who organized those […] Bernanke to get 2nd term as Fed chief – 08/25/2009 (ChattahBox) –  President Barack Obama is expected to announce the […]

  2. Vinceint Apellego on August 25th, 2009 2:05 pm

    Good Move Obama keep up the good work..

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