
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, February 2, 1994                   TAG: 9402020066
SECTION: BUSINESS                    PAGE: B8   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Short

MULLINS QUITS FED

David W. Mullins Jr.'s resignation Tuesday as vice chairman of the Federal Reserve Board gives President Clinton a second opportunity to name a central bank governor and influence its monetary policy-making decisions.

Mullins, 47, said he is resigning Feb. 14, just five days after Wayne D. Angell's departure from the seven-member board of governors.

Clinton is believed to have chosen economist George Perry of the Brookings Institution as Angell's successor. Some observers think Clinton will appoint Perry to the No. 2 position under Chairman Alan Greenspan.

Mullins and Angell are regarded as two of the board's anti-inflation hawks. Perry, on the other hand, is considered middle of the road and more inclined to hold interest rates steady. Any successor requires Senate confirmation.

Mullins was appointed vice chairman by former President Bush. Although

the Clinton administration also wants to avoid inflation, its stated priority is sustained economic growth and job creation. Officials fear increased interest rates - the traditional means for curbing inflation - would curb business expansion.

Observers said the two vacancies could lead to changes in board policies. Both Angell and Mullins usually sided with Greenspan, also an anti-inflation hawk.

by CNB