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Greenspan Chairs Final Fed Meeting on Interest Rates

The man who guided the world's largest economy for the past 18 years today presides over his last meeting of the committee that sets the key U.S. interest rate.

Economists and politicians say 79-year-old Federal Reserve Chairman Alan Greenspan is world's most influential economic figure.

Greenspan was first appointed to head the U.S. central bank in 1987 by President Ronald Reagan.

Since then he has built a reputation for skillfully fighting inflation and helping the U.S. economy weather stock market declines, terror attacks and recession.

Most economists say Greenspan and his colleagues will probably raise U.S. interest rates again Tuesday as they near the end of a campaign of boosting rates to fight inflation.

Former White House economic advisor Ben Bernanke is set to be confirmed as Greenspan's successor.

Some information for this report was provided by AP and Reuters.