Arthur Burns's Email & Phone Number

📖 Summary

Arthur Burns was the 9th Chairman of the Federal Reserve of the United States, serving from 1970 to 1978. He was widely regarded as a conservative economist who advocated for policies that promoted economic stability and growth. Burns played a pivotal role in shaping the monetary policies of the United States during his tenure at the Fed, and his influence continued to be felt long after he left office.

Born in Stanislau, Austria-Hungary in 1904, Arthur Burns immigrated to the United States as a child and grew up in the lower east side of New York City. He went on to earn a PhD in economics from Columbia University in 1934, where he studied under the influential economist Wesley Mitchell. Burns then joined the faculty at Rutgers University, where he became known for his expertise in business cycles and monetary economics.

In 1945, Burns was appointed as the chief economic adviser to President Harry Truman, a position that allowed him to have a significant impact on economic policy during a crucial period of post-war economic reconstruction. He later served as the chairman of the President's Council of Economic Advisers under President Dwight D. Eisenhower, where he advocated for a conservative approach to fiscal and monetary policy.

In 1970, Burns was appointed as the Chairman of the Federal Reserve by President Richard Nixon. During his tenure at the Fed, Burns faced several challenges, including the economic impact of the Vietnam War, the oil crisis of the 1970s, and rising inflation. He implemented policies aimed at combating inflation, including raising interest rates and tightening monetary policy. While these measures were initially successful in curbing inflation, they also contributed to a recession in the mid-1970s.

Despite the economic challenges of the time, Burns was known for his commitment to promoting economic stability and growth. He believed that the Federal Reserve had a responsibility to maintain stable prices and low unemployment, and he worked tirelessly to achieve these goals. His tenure at the Fed was marked by a dedication to conservative economic principles and a deep understanding of the complexities of monetary policy.

After leaving the Federal Reserve in 1978, Burns continued to be an influential voice in economic policy and academia. He returned to his academic career, teaching at the Woodrow Wilson School of Public and International Affairs at Princeton University. He also served as a consultant to various government agencies and organizations, providing his expertise on economic matters.

In addition to his academic and policy work, Burns was a prolific writer and author of several influential books on economics, including "The Frontiers of Economic Knowledge" and "Reflections of an Economic Policy Maker." He was also a sought-after speaker and commentator, and his insights on economic issues were widely respected in academic and policy circles.

Arthur Burns passed away in 1987, leaving behind a legacy of dedication to promoting economic stability and growth. His tenure at the Federal Reserve and his contributions to economic policy continue to be studied and debated by economists and policymakers, and his influence on the field of economics is still felt to this day. As a former Chair of the Federal Reserve, Burns played a crucial role in shaping the monetary policies of the United States and his impact on the field of economics is undeniable.