Pres. Bush announced today that he has nominated Bernanke his Chief for Council of Economic Advisors to replace Greenspan to be the next Chairman of the Federal Reserve. This position is considered the second most powerful position in Washington to the president himself. Although he has no Wall Street experience like Greenspan he has support from the financial community and is considered one of the brightest minds on economics of his generation. The Senate will have to confirm his nomination.
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