On Thursday, by a 70-to-30 vote, the Senate confirmed Chairman Ben Bernanke of the Board of Governors of the Federal Reserve System for a second four-year term despite recent criticism the Federal Reserve has faced under his leadership by policymakers. The Senate Committee on Banking, Housing, and Urban Affairs previously approved Chairman Bernanke’s nomination in December. Committee Chairman Christopher Dodd (D-CT), who supported the nomination, noted that “[h]ad it not been for Ben Bernanke as the Chair of the Federal Reserve, I think we would be looking at a very different America today.”

President Barack Obama also welcomed the Senate’s confirmation and credited Chairman Bernanke for providing “steady leadership [thus far] in the midst of the financial and economic crisis.”