29 Jan 2010

Bernanke appointed for second term at Federal Reserve

10:29 am on 29 January 2010

The US Senate has approved Ben Bernanke's nomination to a second four-year term as chairman of the Federal Reserve.

The Senate voted 70-30 to confirm Mr Bernanke, despite the stiffest opposition to any nominee for chairman in the three decades the Senate has voted on the position.

Senators credited Mr Bernanke with steering the US economy through the financial crisis, but criticised him for an initial slow response and for policies they argued sowed the seeds of the turmoil.

Mr Bernanke replaced Alan Greenspan as chairman in 2006.