Ben Bernanke moved closer to a second term as chairman of the US Federal Reserve in the face of a revolt in Congress by Senate Republicans against his appointment.

In a high-stakes hearing, the Senate banking committee voted 16 to 7 to advance Mr Bernanke's renomination to a full vote of the Senate.

But while the Fed chief won overwhelming support from Democratic senators on the committee, more than half the Republican members voted no, including ranking member Richard Shelby.

“I strongly disapprove of some of the past deeds of the Federal Reserve when Ben Bernanke was a member and its chairman, and I lack confidence in what little planning for the future he has articulated,” said Mr Shelby.

Supporters cited efforts made by Mr Bernanke – who was named Time magazine's Man of the Year this week – to battle the financial crisis. “He did bring us back from the brink of a Depression,” said Democrat Robert Menendez.

Mr Bernanke is expected to win the full Senate vote when it is held early next year. But the unusually contentious nature of his confirmation highlights the risk facing the US central bank as it struggles to deflect reforms that could trim its powers and curb its independence.

Worryingly for the Fed, many of the Senators voting for Mr Bernanke faulted the central bank for regulatory failings and financial sector bail-outs, with several expressing support for proposals to take away its bank supervision powers.