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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: gwy_58 who wrote (24268)	11/6/1999 5:58:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 108040

Surprised Bush remembered Greenspan's name.......Saturday November 6, 3:11 pm Eastern Time Bush wants Greenspan to stay as Fed chairman WASHINGTON, Nov 6 (Reuters) - Republican presidential front-runner George W. Bush said President Bill Clinton should reappoint Alan Greenspan for another term as chairman of the Federal Reserve. ''...I think Alan Greenspan has done a good job and I think the president ought to reappoint him,'' Bush said in a interview with Red Herring, the San Francisco-based business technology magazine. Greenspan's current term expires next June. He is serving his third four-year term as head of the U.S. central bank and is regarded as one of the primary architects of the long U.S. economic expansion. Bush, the Texas governor, sidestepped a question from the magazine's editor over whether high stock prices were a legitimate concern of the Federal Reserve and if Greenspan should raise interest rates to keep the stock market in check. ''It's important not to politicize Federal Reserve decisions,'' Bush said. ''So, from what I read, it appears that Alan Greenspan is raising interest rates to slow down the economy somewhat and reduce inflation pressures.'' Bush's interview appears in the December issue of the magazine, which will be available on newsstands Nov. 9. In the interview, Bush said he is enough of a populist ''to distrust'' Wall Street, based on what he encountered while being educated at New England schools. ''I was exposed to incredible intellectual arrogance and elitism,'' he said. Bush attended prep school Phillips Academy in Andover, Mass. and later Yale University. ''I have a healthy skepticism in general for corporate elites and for Wall Street. Not a disrespect - just a healthy skepticism,'' he said. Bush said he identifies more with entrepreneurs, describing himself as one by pointing out the millions of dollars he earned owning part of the Texas Rangers baseball team and his run in the oil business. (Tom Doggett, Reuters News Room, 202-898-8322)