FEDERAL RESERVE CHAIRMAN

Federal Reserve Chairman

Federal Reserve Chairman

Introduction

Bernanke was appointed to head the nation's banking system by President George W. Bush in 2005 after serving as chairman of Bush's Council of Economic Advisers. President Obama has nominated him for a second term.

Bernanke "approached a financial system on the verge of collapse with calm and wisdom, with bold action and out-of-the-box thinking that has helped put the brakes on our economic free fall," President Obama said in reappointing him. The Senate has the last word in the appointment, though, and some other facts are worth remembering.

Discussion

At the time, reappointing Bernanke was not ...