The Dallas Morning News Robert Dodge Column.

Byline: Robert Dodge

Nov. 20--WASHINGTON--NEXT PRESIDENT NEEDS TO BE GREENSPAN'S ALLY: When the ballots are counted and the courts have ruled, the new president may find that he is not the most influential economic policymaker in the nation's capital.

With the election outcome so bitterly contested, it may be difficult to govern, analysts contend. And the razor-thin majority in Congress contributes to an atmosphere in which no one appears to emerge with a clear mandate.

So who holds the mantle of power?

"Alan Greenspan," answers Greg Valliere, managing director of Schwab Washington Research Group. "You have to think that if there is a [power] void, Greenspan will fill it."

Analysts believe that the election leaves Mr. Greenspan in a unique position to influence policy and the economy in a way that exceeds the traditional role of the Federal Reserve Board chairman.

"He certainly stands taller than he ever has," said David Jones, an economist who follows the Fed for Aubrey G. Lanston & Co. in New York.