Time Magazine Contents Page

Magazine contents page JUNE 15, 1987 Vol. 129 No. 24

COVER: Fed Nominee Alan Greenspan 46

faces tough challenges at home and abroad

Nervousness swept through world financial markets as President Reagan announced Paul Volcker was stepping down as Federal Reserve Board chairman. For eight years, the central banker has literally and figuratively towered over his peers. His soft- spoken successor will face increasing political pressure as the 1988 presidential election draws near. See ECONOMY & BUSINESS.

WORLD: Moscow plays power politics in 30

the wake of the daring flight into Red Square

The new leadership in the Defense Ministry could assume a vital role in Mikhail Gorbachev' s campaign of...

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