posted on Nov, 2 2004 @ 05:38 PM
I am surprised this was not much of a factor in the campaign since the choice of the Federal reserve chief is a huge point!
WASHINGTON (Reuters) - It scarcely rated a mention on the campaign trail, but choosing a successor to Federal Reserve chief Alan Greenspan may be the
biggest economic choice that Tuesday's U.S. presidential election victor will face.
The 78-year-old Greenspan, chairman of the Fed since 1987, is set to step down when his term on the central bank's board expires on Jan. 31, 2006.
Several names are already in the frame as possible picks -- former Treasury chiefs Robert Rubin or Lawrence Summers, if Democrat Sen. John Kerry wins;
and Glenn Hubbard or Martin Feldstein, former chairmen of the White House Council of Economic Advisers, if President George W. Bush returns.
Fed watchers are also divided on whether Wall Street credibility, or technical skill as a monetary-policy practitioner, is most crucial in a Greenspan
replacement. But all deem the current chairman, amply endowed with both, a hard act to follow.
This choice can make a huge difference to our future economic stability, I wonder why so little was said about his successor in the past few months?