'Bernanke doesn't have credibility problem'

WASHINGTON, May 6: US President George W Bush said in an interview today that new Federal Reserve Chairman Ben Bernanke did not have a credibility problem.

Asked if the rising price of gold, increasing bond yields, a falling US dollar and a report that Bernanke had been misinterpreted when he delivered testimony to Congress last week meant that the Fed chief had a credibility problem, Bush told CNBC television: ''No.''

''This guy's sound, he's smart, he's capable. You might remember, when I first nominated him, he was well received by most accounts as being a sound thinker who will be independent from the politics of Washington,'' Bush said in the interview with CNBC's Larry Kudlow.

Reuters