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Greenspan May Head Federal Reserve

June 5, 1987
See Original Daily Bulletin From This Date

President Reagan has named Alan Greenspan, a New York economist, as chairman of the Federal Reserve Board, succeeding Paul Volcker.

The 61-year-old Greenspan must be confirmed by the Senate for the four-year term. He was chairman of President Ford’s Council of Economic Advisors from 1974.

Greenspan is a member of two predominantly Jewish clubs, the Hillcrest Country Club in Los Angeles, and the Harmonie Club in New York.

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