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NEWS: Bush Looking Into Replacement Of Federal Reserve Chairman

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posted on Oct, 4 2005 @ 09:20 PM
During a Whitehouse Press Conference President Bush confirmed that the process of finding Allan Greenspan's replacement is now "on going". Greenspan is set to retire in January 2006. There is much speculation on who President Bush will choose as his sucessor. Speaking of the possible nominees, Bush said "The nominees will be people that, one, obviously can do the job, and, secondly, will be independent,". But according to George Valliere, chief political strategist at Stanford Washington Research Group, Bush "picks people he is comfortable with,".
WASHINGTON (MarketWatch) -- It's official. The White House has begun the process of finding a replacement for Alan Greenspan as chairman of the Federal Reserve.

Asked at Rose Garden press conference Tuesday if the White House would turn its attention to Greenspan's successor now that the two nominees for the Supreme Court have been named, President Bush replied that the search for a new top U.S. central banker "is ongoing."

The next Fed chief must be independent from politics, Bush said.

"There are a group of people inside the White House who will bring forth nominees," Bush said, adding that he hasn't seen any names yet.

Please visit the link provided for the complete story.

The names of other possible candidates, aside from Tom DeLay
are as follows:

White House economic advisor, Ben Bernanke
Who has served at the Fed since 2002

Harvard professor, Martin Feldstein
Who headed the team of White House economic advisors in President Reagan's first term.

Columbia University business school dean, Glenn Hubbard
Who advised Bush in his first term.

Fed Governor, Roger Ferguson

Fed Governor, Donald Kohn

Economic Advisor, Lawrence Lindsey
Who once served as economic adviser to the Bush Whitehouse

Its pretty apparent judging by Miers that Bush doesnt really mean it when he says the nominee "obviously can do the job." He also does go after people he knows and trusts, can he place himself as the head of the Fed Res Board?
Im sure thats a question he's asked his dad already.

[edit on 4/10/05 by subz]

posted on Oct, 4 2005 @ 09:27 PM
Yeah really. Although in recent years I've been thinking that Greenspan will just keel over one day on a podium while giving an update on the Fed and what interest rates are going to be doing.

While I think Bush nominating Roberts was a good move...the Miers situation has me pretty skeptical. Here's hoping for the Fed confirmation and with Miers that the committees do not allow a complete moron to help run things.

posted on Oct, 4 2005 @ 09:34 PM
Yeah I was reading that article on CNN. I find it sad that two of those rumored to be canidates have been some sort of advisor and in one case head of Bush's economic counsel. Isn't the way our economy head under Bush a sign of who shouldn't be looked to. Also Bush was quoted as saying he would make this decision "Independant of politics." Mike Brown anyone?
Give him another chance to screw up not only New Orleans this time?

posted on Oct, 4 2005 @ 10:22 PM
2 Supreme Court nominations and a crack at the Fed Chairman. Even if the War on Terror never existed President Bush will leave a very long lasting legacy.

He can effectively skew the balance on future constitutional matters and have a man in place to wield huge fiscal (true) power for most of the next decade. Not a bad bunch of friends to have around.

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