Arthur Burns
Arthur Burns was an American economist who served as the Chairman of the Federal Reserve from 1970 to 1978. Appointed by President Richard Nixon, Burns faced significant challenges during his tenure, particularly regarding inflation and the economic pressures of the 1970s. His approach often aligned with presidential interests, which led to criticism as inflation surged during his time in office. Burns is often cited as a cautionary example of the potential pitfalls of compromising the independence of central banking.
Born on Aug 27, 1904 (120 years old)
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Ireland:
Arthur Burns was head of the US Federal Reserve between 1970 and 1978 during a period of high inflation and stagflation.
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Vietnam:
Arthur Burns faced pressure from President Richard Nixon during his tenure as Fed Chairman.
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Liechtenstein:
Arthur Burns was the president of the Fed who caved to Nixon's pressure to lower interest rates, leading to significant inflation.
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Liechtenstein:
Arthur Burns is widely blamed for allowing inflation to accelerate during his tenure as Fed chairman.
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Canada:
Arthur Burns was the Fed chair during Nixon's presidency who faced pressure to change monetary policies.
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Liechtenstein:
Arthur Burns was a chairman of the Fed who followed the directives of President Richard Nixon.
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