Greenspan's would-be successor promises to be own man

0 Comments | AFP, November, 2005

WASHINGTON (AFP) — Top White House economist Ben Bernanke promised to bust inflation, boost growth and be his own man if confirmed to succeed the legendary Alan Greenspan as Federal Reserve chief.

Appearing before the Senate banking committee for a one-day confirmation hearing, the 51-year-old nominee of President George W. Bush won cross-party praise as one of the most gifted economists of his generation.

But Bernanke, who is expected to win an easy passage through the full Senate, was questioned closely on his belief that the US central bank should make its monetary policy more transparent by adopting an inflation target.

He stressed to the committee's senior Democrat, Paul Sarbanes, that he believed "entirely and wholeheartedly" in the Fed's dual mandate...