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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (63956)	5/18/2005 3:51:15 PM
From: Snowshoe	Read Replies (1) of 74559

Today we have a weird trial balloon about extending Uncle Al's term. Must be why the market is soaring... Greenspan could stay at Fed longer-paper Wed May 18,12:17 PM news.yahoo.com The Bush administration is considering whether to ask Federal Reserve Chairman Alan Greenspan to stay in office a few months past the end of his Fed board term, which expires on Jan. 31, The Washington Post reported on Wednesday. The newspaper said the delay would give the White House more time to conduct the search for a successor, which could include corporate leaders. However, a close associate of Greenspan's said the Fed chairman intends to step down when his term expires. Asked about the Washington Post account, White House spokesman Scott McClellan said: "We don't speculate on any personnel matters." If Greenspan stayed in office until June 9, 2006, he would become the longest-serving Fed chairman, exceeding the 18 years, nine months and 29 days served by William McChesney Martin from April 1951 through January 1970. But Greenspan has not shown an interest in pursuing that goal. Fed Governor Ben Bernanke, who Bush has nominated to head the White House Council of Economic Advisers, Harvard economist Martin Feldstein, and former Bush adviser Glenn Hubbard are seen as leading candidates for succeeding Greenspan.

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