Bernanke confirmed a 2nd term as chairman of US Federal Reserve

The US Senate has confirmed Ben Bernanke for a second term as chairman of the US Federal Reserve.

The Senate voted 70 to 30 to reappoint Bernanke. His supporters have credited him with engineering a financial industry rescue in time to prevent a collapse. But others criticized his judgment ahead of the US financial crisis and his support for massive Wall Street bailouts.

Bernanke was first tapped by former President George W. Bush to run the nation's central bank. President Obama picked him for a second term in August.

The biggest challenge facing the Fed this year will be how and when to reverse course and raise interest rates.

Federal Reserve Chairman Ben Bernanke looks up during his meeting with Senator Dick Durbin (D-IL) to discuss Federal Reserve policy and Bernanke's upcoming confirmation vote Capitol Hill in Washington January 25, 2010. REUTERS/Kevin Lamarque