BUSINESS

Krugman: Bernanke Should Be Appointed to a Second Term

09/09/2009 05:12 am ET | Updated May 25, 2011

Aug. 10 (Bloomberg) -- Ben S. Bernanke deserves another term as Federal Reserve Chairman on the basis of his success in battling the financial crisis, said Princeton University Economist Paul Krugman, a winner of the Nobel Prize.

"He's earned the right to a second term," Krugman, 56, said yesterday in an interview in Kuala Lumpur. "He turned the Fed into the financial intermediary of last resort. When the banking system failed to deliver capital where it was needed, he put the Fed into the markets."

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