| Home | News| Living in China| MMS | SMS | About us | Contact us|
   
 Language Tips > Newsmakers
Updated: 2006-02-02 11:18

Bernanke takes reins at the Fed  

美国国会参议院1月31日批准由本·伯南克接替届满离任的艾伦·格林斯潘,担任美国联邦储备委员会(美联储)新一任主席,任期4年。伯南克2月1日宣誓就任美联储主席,成为美联储1913年成立以来的第14位主席。

 

Bernanke takes reins at the Fed
Bernanke takes reins at the Fed

White House adviser Ben Bernanke won Senate approval on Tuesday to assume one of the world's most influential economic posts chairman of the US Federal Reserve just after the central bank raised interest rates a 14th straight time.

In 19 minutes that marked a new era at the Fed, Capitol Hill lawmakers approved Bernanke by voice vote to succeed retiring Alan Greenspan, and policy-makers lifted short-term rates a quarter percentage point to 4.5 per cent.

It was the 149th and final policy meeting for the outgoing Fed chief after over 18 yearsin charge. Bernanke wassworn infor a renewable four-year term as chairman and a 14-year board term at a private ceremony at the Fed yesterday.

"I know this institution will go on doing extraordinary things, and I will look on from the sidelines and cheer," Greenspan told 180 guests at a farewell luncheon after Tuesday's rate meeting.

Greenspan has agreed to to be honorary adviser to British finance minister Gordon Brown on global economic change after stepping down.

Global financial markets will watch closely to assess what changes Bernanke, a former Fed governor, will make at the central bank now that he has the top job.

Treasury bond prices fell after the meeting on the prospect the Fed has not finished a cycle that began in mid-2004, but later recovered. The dollar shook off early weakness while stocks closed lower.

Bernanke's nomination was so uncontroversial that some senators were quoted in newspapers expressing surprise that hearings on it had already been held.

"Ben has provided wise counsel and good advice as a member of my economic team, and he will serve our nation with great distinction," President George W. Bush said in a statement.

Bernanke, 52, is a widely respected monetary economist and avocalproponent of inflation targeting at the Fed, a move that would create more formal policy rules than practised by Greenspan, who relied heavily on intuition and flexibility.

(Agencies)

 

Vocabulary:
 

in charge: (主管)

swear in: administer a legal or official oath to(使宣誓就职)

vocal: outspoken(直率的)

 

 
Go to Other Sections
Story Tools
Related Stories
· Ang Lee earns best-director Oscar
· Engagement rumors for Kate Middleton and Prince William
· Summers Stepping Down As Harvard President
more
 
Copyright by chinadaily.com.cn. All rights reserved

版权声明:未经中国日报网站许可,任何人不得复制本栏目内容。如需转载请与本网站联系。
None of this material may be used for any commercial or public use. Reproduction in whole or in part without permission is prohibited.