OAK BLUFFS, Mass. - Federal Reserve Chairman Ben Bernanke, widely credited with taking aggressive action to avert an economic catastrophe after the financial meltdown last fall, will be nominated by President Barack Obama for a second term, NBC News has confirmed.
Obama plans to make the announcement on Tuesday during a break from his vacation on Martha's Vineyard, NBC and The Associated Press reported.
In remarks prepared for the announcement, Obama praised Bernanke for leading the country through a financial crisis and, with his expertise on the Great Depression, helping to prevent a similar crisis....
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