Senate Banking Committee Approves Second Term for Ben Bernanke as U.S. Federal Reserve Chief

The Senate Banking Committee has approved the nomination of Ben Bernanke for a second term as head of the U.S. Federal Reserve.

Bernanke was backed by a 16-7 vote on Thursday and now the proceedings will go to the Senate floor for a vote. That reconfirmation is expected to pass with little trouble despite some senators expressing frustration with the manner in which Bernanke handled the financial crisis.

Bernanke has had to deal with several major issues as the head of the Federal Reserve, most recently partnering to organize the massive bank-bailout programs as well as cutting interest rates to nearly zero.

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