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Bush staying the course with Greenspan team

Wednesday, Sept. 10, 2003 | 9:20 a.m.

WASHINGTON -- President Bush, who in April said he wanted Alan Greenspan to stay on as Federal Reserve chairman, has gone further to ensure continuity at the central bank with his decision to nominate Roger Ferguson for a second term in the Fed's No. 2 job.

In addition to Ferguson's selection, the White House announced today that Bush had decided to tap Fed Governor Ben Bernanke for a full 14-year term on the Fed board.

Ferguson was first picked for the seven-member Fed board by then-President Clinton in 1997. Clinton elevated him to vice chairman in 1999.

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