Obama taps Bernanke for second term

OAK BLUFFS, Mass. (AP) - August 25, 2009 Standing alongside Bernanke for the statement on the island of Martha's Vineyard, Obama said the country is "a long way away" from a complete economic recovery. But the vacationing president also said the 55-year-old Bernanke tackled the crisis "with bold action and outside-the-box thinking" that helped limit the damage.

Bernanke succeeded Alan Greenspan as head of the country's leading agency on monetary policy, and his nomination to another term is subject to Senate confirmation.

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