Ben Bernanke, the chairman of the Federal Reserve, on Wednesday said the United States should not count on the status of the dollar as a safe haven and renew efforts to cut its budget deficit.

Bernanke said while the United States enjoyed a uniquely favoured position, the nation's fiscal position had deteriorated appreciably since the onset of the financial crisis and the recession. "In the midst of financial turmoil, global investors have viewed Treasury securities as a safe haven. Nevertheless