posted on Oct, 24 2005 @ 12:30 PM
Ben Bernarke, the chairman of the White House Council of Economic Advisors, has been named the successor to Federal Reserve chairman Alan Greenspan.
Greenspan is expected to retire upon completion of his fifth term in january.
WASHINGTON — President Bush named Ben Bernanke (search), chairman of the White House Council of Economic Advisers, on Monday as his choice to
succeed five-term Federal Reserve Chairman Alan Greenspan (search).
Calling him one of the most-cited economists in the world, the president said, "Ben Bernanke is the right man to build on the record Alan Greenspan
Speaking in the Oval Office flanked by Bernanke and Greenspan, Bush said Bernanke has impeccable credentials and an excellent reputation. Bush also
had high praise for the outgoing chairman
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I understand that Bernanke has only been a part of the white house council since the start of 2005. I also know very little about him or his economic
philosophy. However, that being said, with the way this administration has handled the economics of the country, I find it a little mind boggling that
a member of the econmic staff would be appointed rather than someone outside the box.
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