Financial Times FT.com

Advent of apostle of ‘inflation targeting'

By Andrew Balls in Washington

Published: October 24 2005 21:17 | Last updated: October 24 2005 21:17

Ben Bernanke's first words as the man likely to assume the most powerful job in international finance and economics was to stress the need for “continuity” with the Greenspan Fed.

“Our understanding of the best practice in monetary policy evolved during Alan Greenspan's tenure at the Fed and it will continue to evolve in the future,” he said at the Oval Office. “However, if I am confirmed to this position, my first priority will be to maintain continuity with the policies and policy strategies established during the Greenspan years.”

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