Word: successors
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Dates: during 1980-1989
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...successor, whose confirmation by the Senate should encounter no serious obstacles, also enjoys widespread respect in international economic circles, though he has no central bank experience. Moreover, his economic views are cut from essentially the same conservative, anti-inflationary fabric as Volcker's. As a Republican who has already served one Republican President, however, Greenspan is bound to face increasing pressure to bend his actions to political ends as the 1988 presidential election draws nearer. Indeed, some Administration critics argued last week that Greenspan's surprise appointment already amounted to just such political meddling. Said Pierre Rinfret, a former Nixon...
Verbal reaction followed the same down- and upbeat course. Nihon Keizai Shimbun, Tokyo's respected business daily, headlined an editorial VOLCKER'S RESIGNATION IS VERY REGRETTABLE. But Takeshi Ohta, deputy governor of Japan's central bank, said with evident satisfaction, "Mr. Greenspan is the best successor that the President could have chosen." British Chancellor of the Exchequer Nigel Lawson called Greenspan's appointment an "excellent choice." In the U.S., where Greenspan is much better known, most economic thinkers and money managers hailed the Fed newcomer -- once they had regretted Volcker's departure. Said Frederick Joseph, chief executive officer...
...from a pocket and began to summarize its contents. As President Reagan heard that some of Volcker's reasons were personal, he declared, "I've got a policy that I never try to talk anyone out of leaving Government for personal reasons." All four men then discussed Volcker's successor and, with the Fed chairman's approval, quickly settled on Greenspan...
...South Korean leader made his long-awaited choice of a successor before a dinner at Blue House, the presidential residence, attended by the 29-member central executive committee of the D.J.P. Though party officials burst into cheers, the President's own praise of his designated successor was understated. Chun said merely that Roh would make a good President because he is "knowledgeable in security affairs and has wide experience in national administration...
...chairman of the Seoul Olympic Organizing Committee. But until recently, his nomination for the presidency was by no means assured. Within Chun's inner circle, Roh vied for power with Prime Minister Lho Shin Yong and Chang Se Dong, head of the Agency for National Security Planning, successor to the KCIA. Of the three, Chang, also a former general, seemed to wield the most power. But two weeks ago, both Chang and Lho were knocked out of the race when Chun dismissed them from office as part of a Cabinet reshuffle brought on by the torture death of a student...