President Bush has nominated Ben Bernanke, his top economic adviser, to serve as the new chairman of the Federal Reserve Board when it comes time for Alan Greenspan to retire January 31.
In announcing Bernanke's nomination on October 24, Bush said Bernanke is the right man "to build on the record Alan Greenspan has established," as "he's built a record of excellence as both an academic and policymaker." If confirmed by the Senate, Bernanke said he would "maintain continuity with the policies and policy strategies established during the Greenspan years." Bernanke, a former Federal Reserve governor and former professor at Princeton University, was chosen as Bush's top economic adviser earlier this year.