Ben Bernanke Has Been Confirmed for a Second Term

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After a bumpy couple of weeks, the Fed chairman has been confirmed by the Senate for a second four-year term by a healthy margin of 77–23. While some people are doubtless apoplectic about it (Jim Bunning), it feels like for the first time in a long time, common sense has prevailed. "We need the wisdom of patience," said Senator Robert Menendez of New Jersey. "Let us not judge the man or the work prematurely." [WSJ]