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No Fourth Term For Greenspan?

Alan Greenspan may not be a shoo-in for a fourth term as chairman of the Federal Reserve next year because of a variety of political and personal factors, according to a published report.

The Fed chairman, widely credited on Wall Street with having engineered the unprecedented growth in the U.S. economy in the 1990s, is believed to be interested in a reappointment when his term is up June 20, 2000, Barron's reported.

But the term will end on the eve of a presidential election. President Clinton will likely delay a decision in anticipation Vice President Gore will win the November election and want to pick his own Fed nominee, the magazine said.

Gore has not given much credit for the nation's economic prosperity to the Fed, instead claiming wise policies by the administration have kept the economy growing.

Should Gore lose to putative Republican candidate and Texas Governor George W. Bush, Greenspan may face a comeuppance of a different sort.

Bush's father blames the Fed chairman for keeping monetary policy tight and tipping the economy into recession as he was running for re-election against Clinton in 1992, the magazine said.

"I'm not sure people fully understand Greenspan's jeopardy," Lawrence Kudlow of American Skandia told Barron's.

Written By Tom Bemis, CBS MarketWatch