December 19, 2014
WASHINGTON (AP) - 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.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.