P.M. BRIEFING : Not Firing Greenspan, Bush Says
President Bush acknowledged a traditional conflict between his office and the Federal Reserve Board today but denied a report that he did not plan to reappoint Alan Greenspan as the board’s chairman.
“There is no discussion of that nature at all,” Bush told a news conference when asked about a report in the Los Angeles Times last week that he would not reappoint Greenspan due to the chairman’s refusal to lower interest rates.
Greenspan’s four-year term expires next year.
Bush said, “Now, the question: Am I happy with interest rates? Look, every President would like to see interest rates lower.
“I don’t knock the concern some have over inflation. . . . But there’s no bubbling war with Alan Greenspan.”
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