Some US congressmen would appear to be upset by the impending departure from office of Federal Reserve chairman Alan Greenspan.

Amid the tributes and accolades during Mr. Greenspan’s semi-annual report on the economy in front of the House Financial Services Committee, California Representative Brad Sherman, a Democrat, said that he is introducing a bill that would exempt Mr. Greenspan from the requirement that he leave his post on January 31, 2006, the end of his current term.

Representative Sherman said that Mr. Greenspan has done such a good job that he should get an additional five-year term.

If Mr. Greenspan does step down in January, he will have served in his job for 18 years and five months, the second-longest serving Fed chairman in US history; if he extended his service even to July of next year he would break the record for service set by William McChesney Martin, who was appointed by President Harry S Truman.

That could happen even if Sherman’s bill is not passed, as Fed chairmen may serve beyond the end of their term if a new chairman has not been appointed. Some have speculated that the Bush administration is so preoccupied with other matters that it could take at least that long to appoint a new chairman.

Mr. Greenspan did not say anything to encourage Representative Sherman’s efforts; he has expressed a preference for departing office at the end of his term, as scheduled.