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 .
Alan Greenspan, 64, has become 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 discount 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, bank failures, budget deficits, and crashing consumer confidence. For the first 2 years the Bush administration was virtually at war with Greenspan, but Fed-watchers now expect him to be reappointed.