PROXMIRE SAYS VOLCKER RETIREMENT A LOSS FOR U.S.
Senate Banking Committee chairman
William Proxmire, D-Wis, said Paul Volcker's decision to leave
the Federal Reserve Board was a loss for the country.
    "I think it is a serious loss for the country," Proxmire said
in a Senate speech. He had no comment on the nomination of Alan
Greespan to replace Volcker.
    Proxmire's committee will hold confirmation hearings on
Greenspan, but no date has been scheduled.
    "Mr Volcker has been a superb chairman of the Federal
Reserve Board. He has the confidence of the business community.
He has the confidence of the country. And I thought he had the
confidence of the Administration. We are going to miss him very
much."
 Reuter
