Fox News has confirmed that President Barack Obama will nominate Ben Bernanke to a second four year term as Chairman of the Federal Reserve.

The official announcement is expected at 9 o'clock Tuesday morning, when President Obama will make a statement to the White House Press Corps in Oak Bluffs, Mass.  Chairman Bernanke will be with Mr. Obama on Martha's Vineyard, where the president is vacationing with his family this week.

His current term as chairman expires January 31, 2010.

WH Press Secretary Robert Gibbs is briefing at 2:10p. Watch the Q&A on the Fox News Live Stream. Watch Now!

WH Press Secretary Robert Gibbs is scheduled to brief at 1:00p. Watch the Q&A on the Fox News Live Stream. Watch Now!

11:05am  - The President delivers remarks on the Post-9/11 GI Bill at George Mason University. He will be joined by Vice President Biden, Veteran Affairs Secretary Shinseki, Senator Webb and other administration officials.

Watch a live stream of President Obama's remarks on Fox News Live.