Alan Greenspan , 64 , has been a key economic advisor to President Bush , who has named him to lead a commission to study a proposal to cut the tax rate on capital gains . Greenspan has cut the Federal Reserve 's key tax rate twice in the last 6 weeks . While these cuts are justified on economic grounds , they also agree with economic goals of the Bush administration . ; Brady and White House Chief of Staff John Sununu criticized him repeatedly for refusing to push interest rates down -- a move Greenspan insisted might send interest rates even higher by making financial markets fearful that the Fed was abandoning the inflation fight.; There were even some hints that Bush had decided not to reappoint Greenspan to the Fed chairmanship. Greenspan must guide the Fed through the concurrent crises of the war , recession , business failures , budget deficits , and low consumer spending . For the first 2 years the Bush administration was virtually at war with Greenspan , but Fed - watchers now expect him to be reappointed .
Alan Greenspan , 64 , has been a key economic advisor to President Bush , who has named him to lead a commission to study a proposal to cut the tax rate on capital gains . Greenspan has cut the Federal Reserve 's key tax rate twice in the last 6 weeks . While these cuts are justified on economic grounds , they also agree with economic goals of the Bush administration . Greenspan must guide the Fed through the concurrent crises of the war , recession , business failures , budget deficits , and low consumer spending . For the first 2 years the Bush administration was virtually at war with Greenspan , but Fed - watchers now expect him to be reappointed .