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Obama announces reappointment of Bernanke as Fed Chairman


http://en.youth.cn   2009-08-26 13:24:00

Photo dated on May 5, 2009 shows U.S. Federal Reserve's Chairman Ben Bernanke testifies on Capitol Hill in Washington. U.S. President Barack Obama announced Tuesday morning to appoint Ben Bernanke as the Federal Reserve's Chairman for a second term, electing to maintain continuity in the nation's most powerful economic policymaking job in a time of crisis.

 

U.S. President Barack Obama announced Tuesday morning to appoint Ben Bernanke as the Federal Reserve's Chairman for a second term, electing to maintain continuity in the nation's most powerful economic policymaking job in a time of crisis.

During a break from his vacation on Martha's Vineyard in Massachusetts, Obama made the announcement and credited Bernanke from aggressively pulling the economy from the brink. He said the 55-year-old Bernanke tackled the crisis "with bold action and outside-the-box thinking" that helped limit the damage.

Bernanke's renomination requires Senate confirmation. If the Senate confirms him, Bernanke would serve a second four-year term when his current one ends on Jan. 31. He would, in his second term, begin the difficult task of unwinding the Fed's extensive interventions in the economy.

 
source : Xinhua     editor:: Fu Qinghua
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