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UPDATED: 08:47, February 07, 2006
U.S. Fed Chairman Bernanke vows to do best in steering economy
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New U.S. Federal Reserve (Fed) Chairman Ben Bernanke vowed on Monday to do his best to carry out the Fed's mission of fighting inflation and fostering economic growth.

"Our mission, as set forth by the Congress, is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly," Bernanke said in remarks at his ceremonial swearing-in at the Fed's headquarters.

He also said that "I look forward to a strong and constructive relationship with members of the House and Senate."

U.S. President George W. Bush attended the ceremony, marking only the third visit by a president to the Federal Reserve.

"The Fed's actions touch the lives of all Americans, and the chairman of the Federal Reserve must be a leader of unquestionable credentials, sound judgment and impeccable character," Bush said. "Ben Bernanke meets those high standards and he will be an outstanding chairman of the Federal Reserve."

Former Fed chairmen Alan Greenspan and Paul Volcker also attended and were warmly applauded by staff members who lined staircases leading to the event.

Bernanke swore in as the new Fed chairman on Feb. 1 to replace Greenspan who finished his job of more than 18 years as Fed chairman on Jan. 31.

Source: Xinhua

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