Washington ? President Bush said Tuesday he intended to nominate Federal Reserve Chairman Alan Greenspan for a fifth term as chairman of the nation’s central bank.

Greenspan, who turned 77 in March, has been serving as Fed chairman since August 1987. His current term as chair runs to June 20, 2004.

Bush gave his endorsement to Greenspan as the Fed chairman was preparing to undergo surgery for an enlarged prostate — a common problem for men his age. He is expected to return to work quickly.

In an interview with economic writers, Bush was asked whether Greenspan has done a good enough job to get another term. “Yes,” the president replied. “I think Alan Greenspan should get another term.”

Bush stopped just short of saying he intended to renominate Greenspan, but several senior White House officials said that was clearly the message he was sending. Congress would need to confirm the nomination.

“The president thinks he has done a very able job as a steward of the economy,” White House spokesman Ari Fleischer said.

Fleischer said he did not know whether Greenspan would accept another term as chairman.

Bush’s remarks came two months after Greenspan faced heavy criticism from conservative Republicans for telling Congress that any new round of tax cuts needed to be paid for, a position that hurt the president’s efforts to sell his proposed $726 billion tax-cut package.

Some conservatives called on Bush at the time not to renominate Greenspan for a fifth term, and there had been some speculation in financial markets that a leading candidate to replace Greenspan was Martin Feldstein, a former chairman of the Council of Economic Advisers in the Reagan administration.