Monday, August 24, 2009

Obama to Announce Re-Nomination of Bernanke, Tomorrow

President Barack Obama will announce Tuesday that he is nominating Ben Bernanke for a second four-year term as Fed chairman, White House Chief of Staff Emanuel said, according to WSJ.

Obama met with Bernanke last week in the Oval Office to offer him another stint as Fed chairman, a White House official said, WSJ reports.

Perhaps something a bit odd is that Obama was to have no public events while vacationing at Martha's Vineyard. AP reported:
Pleading for privacy, the White House said Obama would have no public events while vacationing on Martha's Vineyard with his family and close friends..."He wants you to relax and have a good time. Take some walks on the beaches. Nobody's looking to make any news," spokesman Bill Burton told reporters flying with the Obamas from Washington to Massachusetts.

The White House said there is no formal schedule while the Obamas are on the island, although the president will receive a daily briefing in person from a National Security Council official. He will receive an economic briefing through memos, and the secluded 28-acre private estate has a secure line to the White House if a situation develops...Instead, aides said there might be trips for ice cream and salt-water taffy, possibly a bike ride and plenty of quiet time at the compound...
Thus,it is something a bit unusual for the re-nomination to be made while Obama is on vacation. No big warning flag waving, but something that should be noted.

The renomination requires Senate confirmation.

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