Greenspan would accept Bush nod for new term

cbsmarketwatch ^ | 4:05pm 04/23/03 | By Rachel Koning

[patent]

Greenspan would accept Bush nod for new term
By Rachel Koning

Federal Reserve Chairman Alan Greenspan said Wednesday he would accept another term as head of the central bank if President Bush makes a formal nomination. "If President Bush nominates me, and the Senate confirms his choice, I would have every intention of serving," Greenspan said in a statement. President Bush earlier this week commended Greenspan's job and said he was interested in keeping the 77-year-old Greenspan on longer at the Fed when his current term as chairman ends next year. Greenspan said he "greatly appreciates" Bush's confidence but added he has not yet had formal discussions with the president about a new term. Greenspan was reported home from the hospital Wednesday after surgery for an enlarged, benign prostate.

[Sacajaweau]

This would be good news.

The only negative he had on the proposed budget was that the deficients would run at 4% rather a 3% acceptable rate. Greenspan said the Dividend Tax relief "would be good for everyone".

[Moonman62]

Plus now he'll be able to divine interest rate policy by feeling the scar from his prostate surgery.

[patent]

I'm of a mixed view. I don't hate him as some here do, and I hardly expect that a replacement would be any better, but I tend to think some turnover at the top would be good, sort of in a term limits sort of way.

[GovernmentShrinker]

A change while the economy is on the rocks would be a bad thing, though. It would be different if there were serious concerns about Greenspan's competence, and/or a clearly stronger candidate available, but in the absence of either of those things, a change (or announcement of an expected change) would just spook the markets and the economy all over again.

[patent]

>>>>would just spook the markets and the economy all over again.

Yeah, but now that the war is over CNBC needs a new excuse for the markets tanking, should that happen again. A greenspan resignation would provide a good soundbite, saving all those poor talking heads from thinking.

Please, do it for the talking heads (children?). ;-)

[cmiller623]

Please say no to Alan. He is too old and way past his prime. He is after all 75+ and talks in circles. I hope Bush gets someone else that can talk straight without all the arcane language. It would be a refreshing start....

[widowithfoursons]

Wonder if Steve Forbes would take the job?

[FreeKnight]

Yes to Steve Forbes!