Greenspan may get five more years

A California congressman has said he wants to introduce legislation to give Federal Reserve chairman Alan Greenspan five more years in the job.

Rep. Brad Sherman, a California Democrat, told Greenspan he would propose legislation that would exempt him from the current legal requirement that he must leave the Fed on 31 January 2006 when his current board term is completed.

Sherman told Greenspan he had done such a good job that he should be given a further five years at the Fed.

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