Clinton Renominates Greenspan As Fed Chairman

President Clinton renominated Alan Greenspan to another term as chairman of the Federal Reserve Tuesday, extending his strong authority over U.S. economic policy for another four years.

Greenspan, a 73-year-old Republican who took the reins at the central bank in 1987, said he had agreed to stay in the job in part because of the “unimaginable intellectual interest” of putting economic theory to the test in the financial markets. Continue reading Clinton Renominates Greenspan As Fed Chairman