Bush political adviser reportedly a Fed candidate

[Judi Lynn]

July 23, 2005, 11:52PM

Bush political adviser reportedly a Fed candidate
Reuters News Service

WASHINGTON - Economist and author Todd Buchholz, an adviser to President Bush during the 2004 presidential campaign, is being considered by the White House for a seat on the Federal Reserve Board, sources close to the administration said.
Buchholz, who also served as a White House adviser under Bush's father, is under consideration for one of the two Fed seats the president will need to fill.

University of Chicago economist Randall Kroszner, a member of Bush's Council of Economic Advisers from November 2001 to July 2003, is another candidate.

The Fed's seven-member board forms the core of the central bank's interest-rate setting panel.

The White House has drawn up a short list for the seat vacated in June when Ben Bernanke left the Fed to become chairman of the CEA, sources have said. A second spot will open in August when Fed Gov. Edward Gramlich is to step down.
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