President Barack Obama confers with Federal Reserve Chairman Ben Bernanke following their meeting at the White House, April 10, 2009. (White House Photo/Pete Souza)
OAK BLUFFS, Mass. (AP) — Federal Reserve Chairman Ben Bernanke, widely credited with taking aggressive action to avert an economic catastrophe after the financial meltdown last fall, will be nominated by President Barack Obama for a second term, The Associated Press learned Monday night.
Bernanke masterminded what is now seen as a successful strategy to lift the economy out of recession, unlock credit and stabilize financial markets in part by using unconventional and unprecedented lending programs.
via AP source: Obama to nominate Bernanke to 2nd term – Yahoo! Finance.