Bush: Fed chief should stay

Tuesday, April 22, 2003 | 9:51 a.m.

WASHINGTON -- President Bush said today that Federal Reserve Chairman Alan Greenspan should get another term.

Greenspan, who turned 77 in March, has been serving as Fed chairman since August 1987. His current term as chairman runs to June 20, 2004.

The head of the Fed is nominated by the president and the position must be confirmed by the Senate.

Bush gave his endorsement to Greenspan as the Fed chairman was preparing to undergo surgery for an enlarged prostate -- a common problem for men his age. He is expected to return to work next week.

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