President George W. Bush announced his nomination of Ben Bernanke to replace Alan Greenspan as Federal Reserve chairman when Greenspan retires Jan. 31.

Bernanke will get a one-day confirmation hearing in front of the Senate Banking Committee Nov. 15, according to the Associated Press. During this hearing, he should expect to be questioned about whether he will be following Greenspan’s plans.

A former Federal Reserve governor and Princeton University professor, Bernanke, 51, is chairman of the White House’s Council of Economic Advisers.

Should Bernanke be approved by the Senate, as expected, he will succeed Greenspan’s 18-plus years as chairman.

“I don’t think [Bernanke] will have any difficulty being confirmed by congress,” said economics professor Khan Mohabbat. “He is a very strong candidate.”

Bernanke said he has plans to continue Greenspan’s policy of keeping inflation low and stable.

Greenspan has increased short-term interest rates 12 times in the past 18 months in an effort to control inflation.

The main task for Bernanke is to watch inflation does not go haywire. But Mohabbat said he thinks Bernanke will also pay closer attention to unemployment.

If Bernanke gains Senate confirmation, he will take over for Greenspan Feb. 1. His first FED meeting could be March 28.

“My first priority will be to maintain continuity with the policies and policy strategies established during the Greenspan years,” Bernanke said in a Washington Post article. “If confirmed by the Senate, I will do everything in my power, in collaboration with my Fed colleagues, to help ensure the continued prosperity and stability of the American economy.”