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October 5, 2005

Bush May Look Beyond Circle For Fed Chief

From today's WSJ:

WASHINGTON -- President Bush said his choice for a new Federal Reserve chairman must be independent of politics and indicated he wants to look beyond the White House for advice, suggesting he and his advisers may be expanding the circle of possible choices.

Mr. Bush's pick to succeed departing Fed Chairman Alan Greenspan will be, along with his recent nominations to the Supreme Court, among the major decisions of his second term.

snip

The perceived independence of the Fed chairman is particularly important because it may affect the U.S. and foreign investors' willingness to continue buying billions of dollars of Treasury bonds at relatively low interest rates needed to finance the government's burgeoning budget deficit.

LINK to rest of article (UIUC Net ID & Password Required)

Click here for a related article, "Greenspan's Boots"

Posted by Becky at October 5, 2005 9:39 AM Posted to Business News