Looks like the Fed’s chief Ben Bernanke will keep his post after the Senate banking committee. The committee voted 16 to 7 in favor of Bernanke.
Bernanke’s current term will be up in January and President Obama nominated him for another four-year term. The vote now goes to the whole Senate. It does look like he’s going to get it.
Many would consider Bernanke’s leadership as pivotal in preventing a toal economic crash – what could have been another Great Depression. Though critics would also point out that the housing bubble burst could’ve been prevented and that he has gone overboard in bailing out companies.
Bernanke’s recently been hailed by Time magazine as its Person of the Year.
