Bernanke to be reappointed

The White House has signaled that it will reappoint Federal Reserve Chairman Ben Bernanke to a second term. President Obama will officially announce the reappointment today at 9 a.m. from Martha's Vinyard, where he is on vacation.

The Associated Press reports that his prepared remarks will include the statement, "Ben approached a financial system on the verge of collapse with calm and wisdom; with bold action and outside-the-box thinking that has helped put the brakes on our economic freefall."