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To: Snowshoe who wrote (266476)	11/9/2003 9:29:15 AM
From: mishedlo	Respond to of 436258

Alan Greenspan may be in for a rough election nytimes.com Alan Greenspan may be in for a rough election. Indeed, if you ran the Federal Reserve, you'd probably just want to take off every fourth year. A presidential campaign can be an awkward time for the nation's independent central banker, who has more power to influence the economy quickly than any single branch of government, even though it is the president who gets the lion's share of credit or blame for how things are going. President Bush's father unfairly blamed Mr. Greenspan for his defeat by Bill Clinton in 1992, claiming that Mr. Greenspan was too slow to cut interest rates, thereby delaying a recovery. This history only makes Mr. Greenspan's present challenge more delicate. The quandary facing the Federal Reserve will not be how much or how fast to cut, but how much and how fast to raise, its crucial overnight interest rate, now at a 45-year low of 1 percent. Just two weeks ago, the Federal Reserve opted to leave that rate unchanged, and it issued a statement suggesting it would not act for a "considerable period."