Dow Live Report

The US Senate has just approved Bernanke for a second term as US Central Bank Captain. With votes of 70 – 30, Republican Ben Bernanke takes on another four-year term as chairman of the Federal Reserve.

The battle and debate over Bernanke has been lively and while he is credited with navigating USA through the economic minefield, many are of another opinion. It was essentially Bernankes decision to open the cash purse and shift billions of dollars to support the financial sector in late 2008.

Bernanke took office in February 1, 2006, as Chairman and a member of the Board of Governors of the Federal Reserve System. He is also Chairman of the Federal Open Market Committee, which is the Fed System´s monetary policymaking entity.

Bernanke´s membership of the Board is a full 14-year term that lasts until January 31, 2020. The four-year term as Chairman which would have ended in January 31 is now another four-year term.

If Bernanke is the right man for the job is left to be seen. There is a lot to do and while Banks are going on green, unemployment is a real hazard to the nation.

Next week will be another bumpy one.

Related posts:

1. Dow stumbles on expected Bernanke statements
2. Did Bernanke hint at further decline?
3. The Dow is stumbling again
4. Bernanke calls financial future unclear
5. Will Dow Jones go Nasdaq bullish?

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