Federal Reserve chairman, Ben Bernanke, has defended the US central banks response to the credit crunch as he fights for a second term in office.
Standing before a Senate panel considering his nomination for a second four year term, Bernanke says the Fed did what was needed to deal with the global financial crisis.
The Senate is expected to vote on the renewal of Bernanke's tenure before Christmas.
Bernanke has steered the world's largest economy through the longest recession in living memory, has cut interest rates close to zero and spent $3tn buoying the markets, including a $700bn bank bail-out plan in October 2008.
Opening the hearing, Senate Banking Committee Chairman Christopher Dodd said he would support Bernanke's re-nomination, saying it would send the "right signal" to financial markets.
Bernanke, who was named as Federal Reserve chairman by George Bush in 2005, was nominated by Barack Obama for another term as chairman in August.
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