Illustration for article titled Obama to Give Bernanke Another Title Shot

Ben Bernanke's probably keeping his job (and health benefits). From CNN:

President Obama announced Tuesday that he plans to nominate Ben Bernanke to a second term as head of the Federal Reserve.

"Ben Bernanke, has led the Fed through the one of the worst financial crises that this nation and this world have ever faced," Obama said from Martha's Vineyard, Mass., as Bernanke stood by his side. "As an expert on the causes of the Great Depression, I'm sure Ben never imagined that he would be part of a team responsible for preventing another."

Obama said that Bernanke's "background, temperament, his courage, and his creativity" helped him to prevent another Great Depression.

Bernanke, a Republican, has played a central role in the government's extraordinary response to the recession and 2008 banking panic.

Bernanke will have to be confirmed by the Senate. His term ends on Jan. 31. Fed chairmen serve four-year terms.

The question of Bernanke's reappointment had been the focus of much speculation. Recently many economists and insiders had said they believed that he would more than likely keep his job.


Get the rest of the scoop here.

How do you think Bernanke's done? Should he keep his job?


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