(RTTNews) - U.S. President Barack Obama will reappoint Federal Reserve Chairman Ben Bernanke for a second four-year term, according to several media reports.

Citing White House Chief of Staff Rahm Emanuel, the report said that Obama is expected to make the nomination on Tuesday from Martha’s Vineyard, where the First Family is spending a week of vacation.

Obama credits Bernanke with “pulling the economy back from the brink of depression,” Emanuel said.

Bernanke’s term was to expire at the end of January, and his reappointment will require senate confirmation. His term as a policy board member does not expire until 2020.

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Posted in Categories: Economy, Releases, USA.

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