Bernanke wins second term as US Fed chairman

Bernanke wins second term as US Fed chairman

January 28th, 2010 by Associated Press in Local - Breaking News

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 Thursday 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.