Bernanke battles for re-election

Standing before a Senate panel considering his nomination for a second four year term, Bernanke says the Fed did what was needed to deal with the global financial crisis. The Senate is expected to vote on the renewal of Bernanke's tenure before Christmas. Bernanke has steered the world's largest economy through the longest recession in living memory, has cut interest rates close to zero and spent $3tn buoying the markets, including a $700bn bank bail-out plan in October 2008. Opening the hearing, Senate Banking Committee Chairman Christopher Dodd said he would support Bernanke's re...