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Home >> Business
UPDATED: 08:41, November 16, 2005
Bernanke promises to run US Fed free of politics
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White House chief economic adviser Ben Bernanke who was been nominated as new chairman of the US Federal Reserve (Fed) on Tuesday pledged to run the US Fed independent of political influences.

"I assure this committee that, if I am confirmed, I will be strictly independent of all political influences and will be guided solely by the Federal Reserve's mandate from Congress and the public interest," Bernanke said in a prepared remarks to the US Senate Banking Committee, which is holding a hearing on his nomination.

Bernanke was nominated by President George W. Bush in October as the next US Fed chairman to succeed Alan Greenspan who will retire in next January.

He pledged to maintain "continuity" with Greenspan's policies and said that it is a "top priority."

Analysts said that it is a promise aimed at reassuring investors and central bankers worldwide as well as the American public.

Bernanke also said he would move slowly and seek to build a consensus on the notion of inflation targeting -- that is numerically spelling out acceptable bounds for inflation.

"I will take no precipitate steps" on inflation targets, Bernanke said. "This matter requires further study at the Federal Reserve as well as extensive discussion and consultation."

Source: Xinhua

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