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