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Office of the Vice President

For Immediate Release January 4, 2000


The past seven years have been a time of remarkable economic recovery for Americans. In 1993, America was burdened with record deficits and was facing high unemployment. Now, Americans can say with pride that we've not only created 20 million new jobs, but we've also turned record deficits into record surpluses.

We did so by pursuing sensible economic policies, investing in our people, and ushering in a new era of fiscal discipline and expanded trade.

But I've also made it no secret that I feel a key player in this period of economic prosperity has been Federal Reserve Board Chairman Alan Greenspan. Chairman Greenspan has done a remarkable job in managing the Federal Reserve and our nation's monetary policy.

That is why I'm very pleased that today President Clinton announced that he will reappoint Mr. Greenspan to a third term as chairman of the Federal Reserve. I am confident that Chairman Greenspan's technical experience, commonsense, and commitment to fiscal discipline will continue to expand our nation's prosperity for all Americans.