News Release

WASHINGTON - U.S. Rep. John Spratt (D-SC) today issued the following statement on President Bush’s nomination of Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan.

“Ben Bernanke has a tough act to follow, but in everyone’s estimation he is equal to the challenge.  He is known for his keen intellect and original thinking, and among peers, widely respected, even by those who don’t always agree with him.

“Ben Bernanke does not yet enjoy Chairman Greenspan’s reputation as the world’s premier central banker and foe of inflation.  No one would.  But with his ability and manner, and with his wide-ranging experience as a governor of the Fed, chair of the Council of Economic Advisors, and Director of Monetary Economics at the National Bureau of Economic Research, he is clearly capable of attaining it.

“Ben Bernanke is stepping into big shoes, but he can fill them.  As a South Carolinian, I am proud to see a native son and one-time resident of my district rise to this position of great importance, and I look forward to working with him.”

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