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WASHINGTON-The White House recently announced that President George W. Bush intends to nominate Alan Greenspan as the Federal Reserve Board chairman. If confirmed by the Senate, Greenspan will hold the position in which he has served since 1987 for up to another four years. The Fed’s top official also serves as chairman of the Federal Open Market Committee, the Fed’s principal monetary policymaking arm. “I am honored to be nominated by President Bush and, if confirmed by the Senate, to continue my service as Chairman of the Board of Governors of the Federal Reserve System,” the nation’s chief economist said.

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