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House majority leader wants new Fed chief

House majority leader Jim Wright wants a new head of the Federal Reserve, Monitor correspondent Godfrey Sperling Jr. writes. He is looking for ''someone who would respond to the real needs of the economy.''

''If I were President,'' Mr. Wright told a group of reporters over breakfast June 8, ''I would ask for (Paul) Volcker's resignation.''

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Mr. Wright says that the decisions of the President and Congress are nullified by one man who wasn't elected. Interest rates are hurting the economy, says Mr. Wright, who feels that a Federal Reserve chief should see to it that US fiscal and monetary programs work in tandem.

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