The Obama team was decidedly against reappointment as of a couple of months ago. They put great pressure on Bernanke to join their team, or go. And now they commit to continuing with him.
That means that Bernanke may have made some deal to do as Obama wants. If so we will never know the details. Another explanation that is probably more likely is the Obama team may have decided they do not need another controversy, given all the crises and problems they face from Afghanistan to health care.
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