For Immediate Release
Office of the Press Secretary
May 18, 2004
Personnel Announcement
President George W. Bush today announced his intention to nominate
Alan Greenspan, of New York, to be Chairman of the Board of Governors
of the Federal Reserve System for a term not to exceed four years. Dr.
Greenspan now serves as Chairman of the Board of Governors of the
Federal Reserve System, a position he has held since 1987. He also
serves as Chairman of the Federal Open Market Committee, the System's
principal monetary policymaking body.
"Sound fiscal and monetary policies have helped unleash the
potential of American workers and entrepreneurs and America's economy
is now growing at the fastest rate in two decades. Alan Greenspan has
done a superb job as Chairman of the Board of Governors of the Federal
Reserve System, and I have great confidence in his economic
stewardship," President Bush stated.
Earlier in his career, Dr. Greenspan was Chairman and President of
Townsend-Greenspan & Co. Inc., an economic consulting firm in New York
City. He also served as Chairman of the President's Council of
Economic Advisers under President Gerald Ford and as Chairman of the
National Commission on Social Security Reform.
Dr. Greenspan received his bachelor's degree, master's degree and
Ph.D. from New York University.
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