After Alan; The Federal Reserve.(Alan Greenspan)

Economist (US), The, October, 2005

Alan Greenspan has dominated American economic policy for two decades. Who can fill his shoes and what will happen to the Federal Reserve once he has gone?

THE contrast could not be starker. George Bush's decision to nominate Harriet Miers, his White House lawyer, to the Supreme Court has spawned a furore. Meanwhile, the White House is about to decide on another nomination that may affect the country even more but which has attracted little attention: a successor to Alan Greenspan, the man who has run the Federal Reserve Board for the past 18 years and who is often called the second most powerful person in the country.

Only 13 men have headed America's central bank since its creation in 1913 and only five in the past half-century. Most have had a...

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