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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release January 17, 1996

STATEMENT BY THE PRESIDENT

It is my deep regret to learn of Alan Blinder's decision not to seek a second term as Vice Chairman of the Board of Governors of the Federal Reserve System. Dr. Blinder's return to Princeton University is a tremendous gain for a respected university but a considerable loss for the nation.

Alan is a powerful force for sound and sensible monetary policy. His tenure at the Board was marked by integrity, intelligence and candor. He will be greatly missed there as he was when he left the White House Council of Economic Advisors to become Vice Chairman.

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