Greenspan's New Challenge At The Fed
President Bush has finally acted to reappoint Alan Greenspan to a second four-year term as chairman of the Federal Reserve Board. But that doesn't mitigate the unfortunate impression created by the Administration's prior delay in announcing the occupant of what is arguably the second-most-powerful position in the nation. At a time when the recovery has hardly begun, the Administration's dilatory behavior has caused uncertainty in financial markets and bred rumors that it is trying to undercut Greenspan's leadership role within the Fed and pressure him to ease monetary policy further. This is neither what the economy needs nor what Greenspan deserved.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.