Monday, 24 October 2005, 19:11 GMT 20:11 UK
Bush names Bernanke for Fed chief President George W Bush has nominated Ben Bernanke to succeed Alan Greenspan as US Federal Reserve chairman.
The appointment needs to get Senate backing, and President Bush called for swift action to approve the decision.
"He will be an outstanding chairman of the Federal Reserve," Mr Bush said as he made the announcement.
Bush=the gift that keeps on giving!
