Bernanke wins second term as Fed chairman

In this Dec. 7, 2009, file photo Federal Reserve Chairman Ben Bernanke is introduced before speaking at the The Economic Club of Washington.

January 28, 2010 1:21:02 PM PST
The Senate has confirmed Ben Bernanke for a second term as chairman of the Federal Reserve.

The Senate voted 70-30 on Thursday to reappoint Bernanke amid criticism of his judgment ahead of the 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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