Burns and the Fed: President's Options: Economic Inipael Burns: The Three Options
SOMK TIM 10 SOON, but certainly before next January .'II, President Carter will have to decide whether or not to reappoint Arthur Burns as chairman of the Federal Reserve Board. It will he one of President CarterÛªs toughest decisions.</br></br>One longtime Fed watcher, Now York economist Henry S. Kaufman. pointed out in a recent lam-don speech that there arc three possibilities:</br></br>First, the President fails to reappoint Burns, who then opts to stay on the hoard as a member for the balance of his term, technically until HUH (more about that Intort.</br></br>Kaufman dismisses the first option. although in HMfl. wnen President. Truman failed to rename Mar finer Kccles as chairman, liccles surprised everyone and continued as a member until IHIil.</br></br>ALMOST NO ONK IN THIS TOWN can visualize Arthur Burns playing second fiddle to some new chairman of the board. He'd rather follow scholarly or artistic pursuits.