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(Studio: Elizabeth Vargas) The White House announcement of President Bush's replacement of Federal Reserve Board chairman Alan Greenspan†† with Ben Bernanke†, who currently heads the president's Council of Economic Advisers, noted.
(White House: Terry Moran) The big opportunity for Bush in naming the head of the Federal Reserve featured; details given of the role of the Fed in adjusting interest rates. [BUSH - nominates Bernanke; praises central banker Greenspan.] [BERNANKE - states his first priority will be to provide continuity to the Greenspan years.] Bernanke's background reviewed. [New York University economics professor Mark GERTLER†- talks about Bernanke's policy background.]
(Studio: Elizabeth Vargas) Stock Market Report
(Studio: Elizabeth Vargas, Betsy Stark) The reaction of Wall Street & Main Street investors to the changes at the Federal Reserve & the likelihood that interest rates will keep rising to fight inflation discussed.
- Vargas, Elizabeth;
- Moran, Terry;
- Stark, Betsy
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