Bush Presses Senate On Fed Nominees
MIAMI - President Bush urged the Senate on Monday to approve quickly his two nominations to serve on the Federal Reserve Board, saying inaction on them is "just plain inexcusable."
He also urged the Senate to approve Alan Greenspan as chairman of the Fed for a new four-year term.
"We need a full and vigorous team on the Federal Reserve - and this is a matter on which the United States Senate needs a loud wake-up call. Two of the seven seats on the Fed sit empty right now," Mr. Bush said in remarks prepared for the annual meeting of Miami's Beacon Council, an economic group.
He said one or two senators had held up his nomination of Lawrence Lindsey for months, and "that's just plain inexcusable."
He also called for confirmation of Susan Phillips, former chairman of the Commodity Futures Trading Commission, to the Fed.