Statement on the Senate
Confirmation of Alan Greenspan To Be a Member and
Chairman of the Board of Governors of the Federal Reserve System
I
welcome the Senate's confirmation of Dr. Alan Greenspan as a member and
Chairman of the Federal Reserve Board. I appreciate the Senate's expeditious
consideration of his nomination and the overwhelming support afforded him by
the Banking Committee and the Senate. Dr. Greenspan will now be able to assume his
post as Chairman Volcker departs office.
Dr.
Greenspan's experience in both the public and private sectors, spanning the
last three decades, superbly qualifies him for this important and challenging
position. His years of prior service to the Government, including his tenure as
Chairman of the President's Council of Economic Advisers, have given him a
broad perspective on the role of government and the operation of the Federal
Reserve. In the private sector, Dr. Greenspan successfully practiced his profession
as an economist and shared his talents through teaching. Dr. Greenspan will
carry on the important traditions of an independent Federal Reserve System,
dedicated to stability and economic growth while maintaining the safety and
soundness of the banking system.