Greenspan Replacement Expected

President Bush is expected to announce the next chair of the Federal Reserve at 1:00 PM. Whoever he picks is sure to inflict an incredibly boring confirmation process, although I would expect much ado will be made about the putative housing bubble. The Economist expects Don Kohn, a man I don't know much about but seems to be the sort of monetary policy wonk on would expect to head the Fed. Either way, Greenspan is a monolith who will not easily be replaced.

Update:
According to Drudge, the WSJ reports that President Bush will name Ben Bernake, chair of the Council of Economic Advisers. Look for Dems to cry croneyism.

Update II:
Toldya so.