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Another Term For Bernanke

Remember when Bill Burton said this? "Nobody is looking to make any news, so he's hoping that you guys can enjoy Martha's Vineyard while we're there."

So much for that. The White House says he'll make a statement tomorrow at 9 am from Martha's Vineyard. AP has details on what's to come:

OAK BLUFFS, Mass. -- An Associated Press source says President Barack Obama plans to nominate Federal Reserve Chairman Ben Bernanke to a second term. Obama is to make the announcement on Tuesday during a break from his vacation on Martha's Vineyard in Massachusetts. The source is a senior administration official who discussed the announcement late Monday on the condition of anonymity.

Obama was first named Fed chairman by former President George W. Bush. In his announcement, Obama plans to praise Bernanke as someone who led the country through a financial crisis.

Obama plans to note Bernanke's expertise on the Great Depression of the 1930s and his efforts to prevent another crisis.

You can expect the release of the OMB's mid-session budget review tomorrow morning as well.