Opening Statements of Committee Members

Opening Statement of Senator Jim Bunning (R-KY)

Hearing on the Nomination of Alan Greenspan, of New York
to be the Chairman of the Board of Governors of the Federal Reserve System
2:00 p.m., January 26, 2000 - Hart 216

I would like to thank Chairman Greenspan for braving the weather to come here today to testify on his renomination as Chairman of the Board of Governors of the Federal Reserve System.

There is a lot of credit to go around for our continuing economic expansion. President Reagan's landmark tax cut and the Balanced Budget Act have a lot to do with this expansion, but obviously, Chairman Greenspan and his stewardship of the economic policies of the Federal Reserve deserves a great deal of credit for our robust economy.

Which is probably why the President re-nominated you.

As I said the last time we met, I hope you are feeling good today, because your words always have an effect on the markets. I think I can speak for my colleagues when I say that I hope your comments on the markets will be positive.

I would be remiss if I did not take advantage of your presence here today to ask you a few questions. I look forward, as always, to your testimony and I look forward to the opportunity to pick your brain a little bit on a few topics on which I believe the American people would like to know your thoughts.

Once again, thank you, Mr. Chairman, for braving the roads and coming before us today.

Thank you Mr. Chairman.