Bush Urges New Greenspan Term

WASHINGTON — Republican presidential front-runner George W. Bush said President Clinton should reappoint Alan Greenspan for another term as chairman of the Federal Reserve.

“I think Alan Greenspan has done a good job, and I think the president ought to reappoint him,” Bush said in an interview with Red Herring, a San Francisco business technology magazine.

Greenspan’s term expires in June. He is serving his third four-year term as head of the U.S. central bank and is regarded as one of the primary architects of the long U.S. economic expansion.

Texas Gov. Bush sidestepped a question over whether high stock prices are a legitimate concern of the Federal Reserve and if Greenspan should raise interest rates to keep the markets in check.

“It’s important not to politicize Federal Reserve decisions,” Bush said. “So, from what I read, it appears that Alan Greenspan is raising interest rates to slow down the economy somewhat and reduce inflation pressures.”