BANKING & FINANCE - Feb. 27, 1992

Senate Panel OKs Second Term for Greenspan: Despite criticism that Federal Reserve chief Alan Greenspan has not done enough to stimulate the stagnant economy, the Senate Banking Committee voted to give him a second term as chairman. The committee voted 20-1 in favor of Greenspan even though many have accused the Fed chief of being too passive in his handling of the economy. Greenspan is respected in Congress, but some lawmakers have accused him of being too slow to recognize the depth of the recession and too timid in cutting interest rates. Greenspan, 66, was first appointed by President Reagan. The nomination now goes for a final vote before the full Senate.