Changes

In October Bernanke endorsed an eventual stimulus program that gave support to the the proposed spending plans of [[Barack Obama]]. <ref>http://online.wsj.com/article/SB122455027730552509.html</ref>   

In October Bernanke endorsed an eventual stimulus program that gave support to the the proposed spending plans of [[Barack Obama]]. <ref>http://online.wsj.com/article/SB122455027730552509.html</ref>   

[[File:Bernank2.jpg|thumb|290px|''Time'' Dec. 28, 2009. [http://www.time.com/time/specials/packages/article/0,28804,1946375_1947251,00.html read the cover story]]]

[[File:Bernank2.jpg|thumb|290px|''Time'' Dec. 28, 2009. [http://www.time.com/time/specials/packages/article/0,28804,1946375_1947251,00.html read the cover story]]]

In August 2009, economists on the ''Wall Street Journal'' panel  are nearly unanimous that Bernanke should be reappointed to another term as chairman. The majority of these economists said the [[Recession of 2008]] is now over. However, these same economist failed to predict the 2008 recession unlike the economist of the conservative school of economics called [[Austrian economics]]. Battling the downturn defined most of Mr. Bernanke's term, which began in early 2006 and expires in January 2010, and economists say his handling of the crisis has earned him four more years as Fed chief.  A slow initial response to the credit squeeze and the decision to let Lehman Brothers fail were cited as the biggest errors.<ref> See [http://online.wsj.com/article/SB124993702311020493.html?mod=djemalertNEWS Phil Izzo, "Economists Call for Bernanke to Stay, Say Recession Is Over," ''Wall Street Journal'' Aug. 11, 2009]</ref> Barack Obama has nominated Ben Bernanke to a second term as chairman of the United States Federal Reserve. <ref>[http://www.bworld.com.ph/BW090109/content.php?id=146 One hand clapping for Ben Bernanke, Business World, August 31, 2009]</ref>

In August 2009, economists on the ''Wall Street Journal'' panel  are nearly unanimous that Bernanke should be reappointed to another term as chairman. The majority of these economists said the [[Recession of 2008]] is now over. However, these same economist failed to predict the 2008 recession unlike the economists of the conservative school of economics called [[Austrian economics]] who did predict the recession of 2008.<ref>http://www.thenewamerican.com/index.php/economy/economics-mainmenu-44/3323-austrian-economics-rising</ref> Battling the downturn defined most of Mr. Bernanke's term, which began in early 2006 and expires in January 2010, and economists say his handling of the crisis has earned him four more years as Fed chief.  A slow initial response to the credit squeeze and the decision to let Lehman Brothers fail were cited as the biggest errors.<ref> See [http://online.wsj.com/article/SB124993702311020493.html?mod=djemalertNEWS Phil Izzo, "Economists Call for Bernanke to Stay, Say Recession Is Over," ''Wall Street Journal'' Aug. 11, 2009]</ref> Barack Obama has nominated Ben Bernanke to a second term as chairman of the United States Federal Reserve. <ref>[http://www.bworld.com.ph/BW090109/content.php?id=146 One hand clapping for Ben Bernanke, Business World, August 31, 2009]</ref>

On December 1, 2009, the ''Foreign Policy Magazine'' has named Ben Bernanke one of 2009’s “Greatest Thinkers".  He was ''Time'' magazine "Person of the Year" for 2009.

On December 1, 2009, the ''Foreign Policy Magazine'' has named Ben Bernanke one of 2009’s “Greatest Thinkers".  He was ''Time'' magazine "Person of the Year" for 2009.