Blame - shifters are making Alan Greenspan and his Federal Reserve scapegoats in the current recession . Some are opposing his reappointment to a new four - year term in August . Other potential allies do not appear ready for the job and Greenspan has become Bush 's biggest economic asset . Any replacement will be seen as a victory for the cause of roll-the-Fed. Bushes economic advisers and Congress who raised taxes three years into a recession are now expecting the Fed 's to ease money supply and lower short - term interest rates . If the recession persists too long , the solution will lie in a cut to capital - gains taxes , strongly recommended by Greenspan . His main defenders are the financial markets and the American middle class .
Blame - shifters are making Alan Greenspan and his Federal Reserve scapegoats in the current recession . Some are opposing his reappointment to a new four - year term in August . Other potential allies do not appear ready for the job and Greenspan has become Bush 's biggest economic asset . Bushes economic advisers and Congress who raised taxes three years into a recession are now expecting the Fed 's to ease money supply and lower short - term interest rates . If the recession persists too long , the solution will lie in a cut to capital - gains taxes , strongly recommended by Greenspan . His main defenders are the financial markets and the American middle class .