Paulson has strong confidence in Bernanke

Henry Paulson, President Bush's nominee as the next US Treasury Secretary, has thrown his weight behind Ben Bernanke, the new chairman of the Federal Reserve.

"I have a very high regard for Chairman Bernanke," Mr Paulson told the Senate Finance Committee at a confirmation hearing for his own appointment. "I have strong confidence that he is going to do what's right to maintain price stability consistent with long-term growth."

The strong vote of confidence from Mr Paulson comes after some signs