WASHINGTON, Jan. 29 (Reuters) – The US Senate on Thursday backed Ben Bernanke for a second four-year term running the Federal Reserve, the world's most powerful central bank, despite deep misgivings over his perceived policy missteps.

Bernanke survived a revolt by lawmakers angry at big banks and their regulators, including the Fed. He still faces acute political pressure to ease economic strains at a time when the US central bank is showing divisions over how much support the economy needs.

US President Barack Obama welcomed the Senate vote and said he looked forward to working with Bernanke going forward.

“As the nation continues to face the consequences of the worst recession in a generation, Ben Bernanke has provided wisdom and steady leadership in the midst of the financial and economic crisis,” Obama said in a statement.

Senators credited Bernanke with steering the economy through a wrenching financial crisis but leveled withering criticism at him.
They said his policies sowed the seeds of the turmoil and he initially showed a slow response to the crisis.
“Bernanke fiddled while our markets burned,” said Senator Richard Shelby, the top Republican on the Senate Banking Committee.