George Bush wants apolitical person to lead Federal Reserve
George Bush wants apolitical person to lead Federal Reserve 12 October 2005
With the White House promising a decision soon on a successor to Federal Reserve (Fed) Chairman Alan Greenspan, analysts view early November to mid-December as a likely time window for an announcement. Greenspan's 18-year tenure at the Fed runs out on 31 January. Although he could stay longer if a successor is not in place, the Fed chief has signaled he prefers to leave on time, Reuters has said.
White House spokesman Scott McClellan said a decision will be made "as soon as possible," but declined to give specifics. Some analysts see an October decision as an outside possibility but many discounted that after Bush said last week he had yet to see a list of candidates but he wanted the candidate to be a political independent.
Alan Greenspan, 79, became Federal Reserve chairman on 11 August 1987. On 1 February 1992 he was reelected as chairman for a period of 14 years, tenure which expires on 31 January 2006. He was confirmed to this position by presidents Reagan, G.H.Bush, Clinton, and G.W. Bush.
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