| For immediate release |
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Federal Reserve Board Chairman Alan Greenspan today issued the following statement: I am extraordinarily grateful to Alice Rivlin for her many contributions to the Federal Reserve and very much regret her departure. Dr. Rivlin used her skills and experience to make this institution stronger. Her wisdom influenced all of our deliberations. As Administrative Governor, she revised the Federal Reserve Board's budgeting process, introducing a biennial budget and directing more resources toward long-term planning. She chaired the Committee on the Federal Reserve in the Payments Mechanism (now called the Rivlin Committee) to help define the Federal Reserve's future role in the payments system, and inspired a new focus on the role of the central bank in fostering electronic payments. In the exercise of her many international responsibilities as Vice Chair, her steady common sense served us well during a particularly difficult period. I speak for the entire Board in saying that we will miss her, and wish her success in her next endeavors. |