US President Barack Obama will reappoint Ben Bernanke for a second term as chairman of the Federal Reserve on Tuesday, Aug 25 a senior administration official said on Monday, according to Reuters. Bernanke, whose four-year term as the head of the U.S. central bank is due to end next February, will also be praised by Obama for his handling of the financial crisis, the official said. Bernanke, 55, was appointed by President George W. Bush to succeed Alan Greenspan and is a widely respected monetary scholar who has long called for a more open central bank.
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