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Who will replace Alan Greenspan? Archives

Who will replace Alan Greenspan?

Facing reporters in the Rose Garden recently, President Bush fielded a question about a high-profile, high-stakes nominee who, if confirmed, would instantly exert great influence over policies familiar and vital to Americans' everyday lives.

No, not one of the eight questions tossed at Bush about Supreme Court pick Harriet Miers. The one about his upcoming nominee to chair the Federal Reserve when Alan Greenspan steps down in January.

"Fed replacement means high stakes for Bush," by Elizabeth Wilner, NBC News, Oct. 18, 2005

Alan Greenspan will retire as Fed chairman on January 31st, after a mere 18 ½ years in the job. So George Bush needs to nominate a successor soon.
. . .
If Mr Bush means what he says about the next chairman being politically independent, then we believe the best choice would be Don Kohn, a governor on the Federal Reserve Board, who is not affiliated to any party. Mr Kohn has another big advantage. As a staff member before being promoted to governor in 2002 on Mr Greenspan's recommendation, Mr Kohn has been attending the Fed's policy-making meetings for almost 24 years, even longer than Mr Greenspan. His vast experience of monetary-policy decisions and financial crises would be invaluable in troubled times. He is highly regarded by economists in the Fed and on Wall Street, and having worked with Mr Greenspan for so long, his thinking on interest-rate policy and financial markets is also close to the chairman's. He would offer continuity and a safe pair of hands.

"A hard act to follow," The Economist, October 13, 2005

ScrappleFace hints it will be Laura Bush ...

October 18, 2005 04:14 PM

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