Bernanke nominated for second term

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Ben Bernanke, the Federal Reserve chairman, has been nominated by President Barack Obama to serve a second term at the helm of the central bank

The announcement was made at 09:00 EST in Martha's Vineyard, New England, where the president is holidaying. Obama praised Bernanke, who appeared beside the president, for his calm and wisdom.

Bernanke said: "It has been a particular privilege for me to serve with extraordinary colleagues throughout the Federal Reserve System. They have demonstrated rema

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