Reed lobbies for Bernake to stay on

WASHINGTON – Rhode Island Sen. Jack Reed, a member of the Senate Banking Committee, has publicly said Federal Reserve Chairman Ben S. Bernanke deserves a second term for his efforts to turn around the economy over the last year, Bloomberg News said.
Reed, one of the most senior Democrats on the committee, last week told Bloomberg Television that Bernanke should be kept in the top position at the central bank for another four years after his first term ends in February 2010.
Bernanke, appointed by former President George W. Bush in 2006, testified last week before the committee, which will vote on President Barack Obama’s nominee to lead the Federal Reserve early next year.
So far, Obama has declined to comment on whether he will stick with Bernanke.
“Since last fall, he has been doing quite a bit to stabilize the economy,” Reed was quoted as saying on Bloomberg Television. “He has shown a great ability to both improvise and reassure financial markets globally.”
Bloomberg News said almost 75 percent of investors surveyed in the first Quarterly Bloomberg Global Poll this month said they have a favorable view of Bernanke. By almost a 3-1 margin, they said he has earned another four-year term.