Sen. Phil Gramm, chairman of the Senate Committee on Banking, Housing and Urban Affairs, made the following statement today on the Senate's 89-4 vote to confirm Alan Greenspan to a fourth term as chairman of the Federal Reserve Board of Governors:

"As long as there are people like Alan Greenspan who are willing to serve, I think America is in good shape. He ably served Presidents Reagan, Bush and Clinton, and I am pleased that he will be at the helm of monetary policy for the next president."