October 24, 2005

Crapo: Bernanke Good Choice For Greenspan Successor

Washington, DC â??Idaho Senator Mike Crapo today praised the nomination of Ben Bernanke as chairman of the Federal Reserve to replace current Chairman, Alan Greenspan.Crapo, a member of the Senate Banking Committee, said Bernanke, who currently serves as Chairman of the Presidentâ??s Council of Economic Advisers and also served as a member of the Federal Reserve Board of Governors, would bring a wealth of experience to the chairmanship.â??Ben Bernanke has big shoes to fill with Alan Greenspanâ??s vacancy and he is highly qualified to do just that,â?? said Crapo. â??He brings a vast amount of knowledge and working experience to the job and I look forward to meeting with him in the coming weeks and participating in the nomination process as it comes through the Banking Committee. I thank Chairman Greenspan for his years of service.â??Bernankeâ??s confirmation hearings will commence through the Banking Committee in coming weeks. Chairman Greenspanâ??s term ends in January, 2006.