Word: feds
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Dates: during 1970-1979
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...suspense over who would replace Arthur Burns as chairman of the Federal Reserve Board-or if he would be replaced at all-began to build even before Jimmy Carter entered the White House. During his campaign, Carter made it clear that he felt each President should choose a Fed chairman whose views were compatible with his own-and he has chafed increasingly under Burns' open criticism of White House policy. But could Carter afford to dump the legendary and controversial Burns when his second four-year term as chairman of what has been called the nation's "Supreme...
DIED. Marriner S. Eccles, 87, Utah banker and former New Deal brain-truster who headed the Federal Reserve Board for twelve tumultuous years; in Salt Lake City. Though a Republican, Mormon Eccles was one of Franklin Roosevelt's earliest backers, and after being named Fed chairman in 1936, he kept monetary policy in step with New Deal efforts to foster economic recovery and fight World War II through massive deficit spending. Accused of turning the Fed into "an engine of inflation," he subsequently tightened up credit and so vigorously reasserted the board's independence that Harry Truman refused...
...White House would soon be public. Jangle, jangle. New rumor running through the city. In just a few minutes Carter would speak in the Mayflower Hotel to the Business Council, a group of high-powered corporate chiefs, and drop his bombshell: Burns would have another four-year term as Fed chairman. Carter indeed met with the council, but he never mentioned Burns...
Burns reads his Bible every night (about the same time that Jimmy Carter does) and he plots his genial strategy of survival. He wants another term as Fed chairman, and not because he likes to go to capital par ties and enjoys the aroma of power (which he does). But he thinks he is doing right by the nation to restrain the money sup ply, to preach a little caution, to stand immune from White House blandishments and politics. Burns views his ideas as good for the country's soul - and its pocketbook...
Baseball reduces well to a game with a playing board, dice and statistics-it is virtually motionless even in real life-and the best of several versions, its adherents insist, is Stratomatic Baseball. To make the game more realistic, the strengths and weaknesses of real baseballers were fed into a computer by the designers. These in turn affect the strengths and weaknesses of Stratomatic players; one scholar at Atlanta's Emory University punched his fist through two windows last year after losing at Stratomatic. New York teenager Chris Boeth can play a solitaire game in about 13 minutes...