AS FEDERAL RESERVE CHAIRman Alan Greenspan tries to navigate a soft landing this year, he will have to make his approach without one trusted co-pilot: John LaWare, who resigned from the Fed's board of seven governors on Mar. 27. LaWare, a 67-year-old former Boston banker who joined the board in 1988, was considered the central bank's toughest inflation hawk. His departure "is not good news on the inflation front," says a former Fed colleague, Wayne Angell. Possible successors? Wachovia's John Medlin Jr. and Richard Rosenberg of BankAmerica. Among economists: Treasury's Alicia Munnell.

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