Bernanke Remains as US Federal Reserve Chariman

ben-bernankeThe US Senate reappointed Ben Bernanke as Chairman of the Federal Reserve in a vote 70-30 Thursday, January 28.

The first round gave Bernanke a vote of 77-23 to clear the way for a final vote. This led the chamber to over two hours of debate on whether he should have another four years in his term.

US President Barack Obama nominated him to the position last year. In history, no nominated chairman has ever been rejected by the Senate. Bernanke, however, faced the stiffest opposition in chairman nomination history.

The Democrats said that Bernanke should be given the opportunity to finish what he started. The party members also argued that voting him down would halt a re-emerging economy.

Bernanke has been credited in putting the country’s economy in the right direction during the global financial crisis. For this, he was named as 2009 Person of the Year by Time magazine.