1904.4.27.–1987.6.26.
○ Natural death
Chairman of the Federal Reserve during the Great Inflation, 1970–1978
Born to Polish-Jewish parents in Stanislau in Austrian Galicia, Burns emigrated to the United States in 1914. A Columbia University professor and business-cycle researcher at the National Bureau of Economic Research, he chaired Eisenhower's Council of Economic Advisers (1953–1956). As Chairman of the Federal Reserve from 1970 to 1978 he opposed Nixon's closing of the gold window but assured the President of his full support, and increased the money supply while wage and price controls were in force; he has a reputation for having been overly influenced by political pressure. Reagan made him Ambassador to West Germany (1981–1985).
Also known as: Arthur F. Burns · Arthur Frank Burns
Activities and affiliations
-
1953–1956
United States state institutionsChairman of the Council of Economic Advisers
Economy, finance and planning -
1970–1978
United States state institutionsChairman of the Federal ReserveMain
Economy, finance and planning -
1981–1985
United States state institutionsAmbassador to West Germany
Diplomacy and international organization
Career Timeline
- 1945Professor, Columbia University
- 1953–1956Chairman of the Council of Economic Advisers
- 1969.01–11Counselor to the President
- 1970.02–1978.01Chairman of the Federal Reserve
- 1981.06–1985.05Ambassador to West Germany