Fed's Bernanke pledges solid foundation for growth

OAK BLUFFS, Massachusetts Tue Aug 25, 2009 11:23am EDT

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OAK BLUFFS, Massachusetts (Reuters) - Federal Reserve Chairman Ben Bernanke said on Tuesday that he would work to build a solid foundation for growth and prosperity in an environment of price stability, if he was confirmed for a second term.

Bernanke, speaking after President Barack Obama renominated him, said the Fed -- the U.S. central bank -- had been challenged by the unprecedented events of the past few years.

"We have been bold or deliberate as circumstances demanded, but our objective remains constant: to restore a more stable economic and financial environment in which opportunity can again flourish, and in which Americans' hard work and creativity can receive their proper rewards," Bernanke said.

(Reporting by Karey Wutkowski and Tim Ahmann; Editing by James Dalgleish)

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