(June 20 – 15:55 ET) – Alan Greenspan was sworn in for another four-year term as head of the U.S. Federal Reserve Board today.

Greenspan, who has rightly or wrongly received much of the credit for the U.S. economic miracle and the resulting prolonged bull market, took the oath of office as chairman of the Board of Governors of the Federal Reserve System for a fourth term. He originally took office on August 11, 1987, just in time for the October 1987 crash. Since then he has ministered to the longest peacetime expansion in U.S. history.

U.S. president Bill Clinton nominated Greenspan for his fourth term on January 4 and he was confirmed by the Senate on February 3. Fed vice chairman Roger Ferguson Jr. administered the oath in Greenspan’s office.

Meanwhile the search for Bank of Canada governor Gordon Thiessen’s replacement continues. Earlier this year Thiessen declared that he would retire at the end of his term, January 31, 2001.