Yesterday President Reagan announced that he would nominate Alan Greenspan , 61 , to replace Paul Volcker as chief of the nation 's central bank . Reactions in Congress and Wall Street have been mixed . Mr. Greenspan headed the Council of Economic Policy under President Ford . Greenspan currently heads Townsend - Greenspan Associates , an economic consulting firm . He helped shore - up the Social Security system in 1983 and negotiated on Ford 's behalf at the 1984 Republican Convention . Greenspan is a foe of socialism and supply - side economics , and supports cutting the federal budget deficit . He is unmarried and enjoys socializing , including playing musical instruments at parties . He has a dry sense of humor and excellent press relations .
Yesterday President Reagan announced that he would nominate Alan Greenspan, 61, to replace Paul Volcker as chief of the nation's central bank. Reactions in Congress and Wall Street have been mixed. Mr. Greenspan headed the Council of Economic Advisers under President Ford. Greenspan currently heads Townsend-Greenspan Co, an economic consulting firm. He helped shore-up the Social Security system in 1983 and negotiated on Ford's behalf at the 1980 Republican Convention. Greenspan is a foe of inflation and supply-side economics, and supports cutting the federal budget deficit. He is unmarried and enjoys socializing, including playing musical instruments at parties. He has a dry sense of humor and excellent press relations.