Leach happy with Greenspan’s nomination

Iowa Congressman Jim Leach is pleased with the nomination of Alan Greenspan for another four-year term as the chairman of the Federal Reserve.Leach, who is the chairman of the House Banking Committee, says the re-appointment of Greenspan sends a message of stability to other countries as he says they have more respect for the Fed Reserve than they do for congress or the president.Leach expects the Federal Reserve to become more important to the country’s economy as it appears the next century will be one of commerce and finance.Leach says the Fed has made all the right moves in recent years.Leach says Greenspan appears to be facing another decision as to whether to raise interest rates again to keep the economy chugging along.