3 months ago
An Associated Press source says President Barack Obama plans to nominate Federal Reserve Chairman Ben Bernanke to a second term.
Obama is to make the announcement on Tuesday during a break from his vacation on Martha's Vineyard in Massachusetts. The source is a senior administration official who discussed the announcement late Monday on the condition of anonymity.
Bernanke was first named Fed chairman by former President George W. Bush.
In his announcement, Obama plans to praise Bernanke as someone who led the country through a financial crisis.
Obama plans to note Bernanke's expertise on the Great Depression of the 1930s and his efforts to prevent another crisis.
