Bernanke a good choice

Ben Bernanke was high on the very short list of candidates with claim to be capable of stepping into the giant shoes of Alan Greenspan as chairman of the Federal Reserve.

That President George W. Bush chose to appoint him, rather than a little-known political crony, is cause for celebration. But while Bernanke may in time grow into being a full replacement for Greenspan, he is not yet that person. No one could be, since so much of Greenspan's authority comes from his 18 years of experience at the helm of the Fed.

The main policy area on which Bernanke differs from Greenspan is his support for inflation targeting. This desire to make the Fed's process more transparent and institutionalized is a welcome move on from the "great man" theory of central banking.

But in practice the difference is likely to be evolutionary rather than revolutionary.

Bernanke must also prove that his political independence is beyond dispute. That may at times require him to stand up to the man who appointed him. Let us hope he rises to the challenge. -- Financial Times, London,

Bernanke's tough job

Stability, continuity should be the priorities of Greenspan's successor.

And as if filling Greenspan's shoes wasn't daunting enough, Bernanke, given that he wins congressional approval, will assume the job at a time when the US economy is confronted with a plethora of serious challenges.

Among them are yawning trade and fiscal deficits, a cooling housing boom, and high energy prices, which have helped drive inflation, to its highest rate in 25 years. -- The Nation, Bangkok

Military deaths in Iraq

Let's remember those Americans -- male, female, sons, daughters, relatives, friends and neighbors -- who've risked their lives to fight an Iraq enterprise that began on a lie.

But if only the United States could belatedly engage more of the world, it might be possible to foresee an exit that leaves Iraq better for the long run.

Unfortunately, the 2,000 U.S. military fatalities, the lack of order and the bombing of a central hotel demonstrate that al- Qaida is hopeful of declaring its own missions accomplished.

Today, story lines from Vietnam, Iraq and the Bush administration's workings run together. The losses in Iraq have been produced by the refusal to employ the lessons of Vietnam ... They neglected basic planning to protect U.S. soldiers, Iraqis and those who hoped to help with reconstruction.

So, Americans mourn the losses in Iraq not just in sorrow but also in anger, regret and uncertainty about the future. -- The Seattle Post-Intelligencer, Seattle, Washington