Bernanke sees 'healthy and sustainable' US growth

In his first speech as chairman of the Council of Economic Advisers on Tuesday 12 July, Ben Bernanke presented an upbeat outlook for the US economy.

Bernanke, who last month stepped down as a Federal Reserve governor, said the US administration's 3.4 per cent growth forecast this year was "on track" in spite of high oil prices. While overall inflation has risen, Mr Bernanke said that core inflation remained stable.

"One consequence of the strong income growth we are enjoying is higher-than-expe