DARYN KAGAN, CNN ANCHOR: And now we want to go to Washington, where a story coming out of the nation's capital says that Fed Chairman Alan Greenspan probably won't be looking for a new job any time soon. Let's bring in our Chris Black, who is at the White House with a big announcement later today -- Chris.</s>CHRIS BLACK, CNN WHITE HOUSE CORRESPONDENT: Daryn, White House officials say that President Clinton will be reappointing Alan Greenspan, the chairman of the Federal Reserve Board, to a fourth four-year term at about 11:15 in an announcement he make live from the Oval Office. Mr. Greenspan is expected to come to the White House at about 11:00 to meet privately with President Clinton. White House officials had indicated that it was up to Mr. Greenspan as to whether Mr. Clinton would reappoint him. He already had reappointed him to another four-year term, and recently Mr. Clinton indicated that he had enjoyed a very good working relationship with the chairman, who is a Republican, and in fact was first named to this position a few months before the 1987 crash by Republican President Ronald Reagan. This sends a very reassuring message to the markets, who viewed Mr. Greenspan as a symbol of stability and also shows that this White House has decided to keep things as they are in this election year -- Daryn.</s>KAGAN: And so, Chris, that would mean Alan Greenspan stays on no matter who would be president next year.</s>BLACK: That is exactly right. He has got a four-year term, and he's in office until he decides to leave.</s>KAGAN: All right, Chris Black at the White House, where 45 minutes from now the president will make that announcement live. And you will see that live here on CNN.
Clinton to Renominate Alan Greenspan