Senior Republicans sounded out Alan Greenspan, chairman
of the Federal Reserve, about taking over from John Snow as US Treasury
secretary, the Financial Times has learnt.
The informal approach, which would have put the most respected economic
leader in the US in charge of President George W. Bush’s ambitious
second-term domestic agenda, was declined.
The approach to Mr Greenspan made at arm’s length from
the White House reflected concern that Mr Snow was not the most
effective champion of Mr Bush’s agenda.
In a separate effort to
strengthen its economic team by bringing in a Fed policymaker, Ben
Bernanke, an influential Fed governor, is the leading candidate to
replace Greg Mankiw as chairman of the White House Economic Advisers.
Here is the story.