WASHINGTON - President Clinton nominated Alan Greenspan on Tuesday for a fourth four-year term as Federal Reserve Board chairman.Mr. Greenspan, whose term ends in June, was initially appointed in 1987 by President Reagan and reappointed by President Bush. As lawmakers applauded the nomination, Senate Banking Committee Chairman Phil Gramm scheduled a confirmation hearing for Jan. 26.

"Chairman Greenspan has guided the Federal Reserve with a rare combination of technical expertise, sophisticated analysis, and old-fashioned common sense," President Clinton said.

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