Washington (May 20, 2004) -- President Bush has re-appointed Alan Greenspan, whose words have been credited with moving markets, as the head of the Federal Reserve Board for yet another term.

If, as expected, his nomination is approved by the Senate, Greenspan, who also serves as chairman of the Federal Open Market Committee, would serve his fifth term as chairman of the board of governors of the Federal Reserve System -- a post he's held since 1987.

Greenspan's fourth four-year term as chairman ends June 20. Under term limits, his term as a governor expires in 2006. Still, if he remains as Fed chairman until June 2006, Greenspan, 78, will reportedly be the longest-serving chairman in the U.S. central bank's history.

Commenting on the re-appointment, a White House spokesman on Tuesday said the president wants Greenspan to continue to serve "as long as possible."

Greenspan's career has included stints as chairman and president of economic consulting firm Townsend-Greenspan & Co. Inc. in New York and as chairman of the President's Council of Economic Advisers under President Ford and chairman of the National Commission on Social Security Reform.

-- WebCPA staff

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