Word: reappointment
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Dates: during 1970-1979
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...White House, Carter talked amiably with Burns. Carter told the chairman of his ideas about what the Fed should be doing. Not until the end of the hour-long exchange did the President get to the point: he would not reappoint Burns, but instead would choose Bill Miller, whom Burns knows because Miller for seven years has been a director of the Boston Federal Reserve Bank...
...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 to reappoint...
...tells the Administration what it should do and what he is going to do and hands off what he is going to do and that is it. Replacing him* might make a difference in that it would replace monologue with dialogue." Yet liberals reluctantly conclude that Carter just might reappoint Burns anyway because the President might feel that Burns has become indispensable as a symbol of monetary rectitude...
Burns, a conservative Republican, obviously wants to see higher interest rates, and a closer growth of money supply, than the White House would like, and his stand does nothing to increase the chances that Carter will reappoint him when his term as board chairman expires Jan. 31. Washington speculation on his possible successor is already narrowing to Robert V. Roosa, a partner in the investment banking house of Brown Bros. Harriman, and Paul Volcker, head of the New York Federal Reserve Bank. (Arthur Okun, a Brookings Institution economist and member of TIME'S Board of Economists, whose name also...
...Couple. Even more galling to many Democrats are the stories that Carter has decided to reappoint Burns Federal Reserve chairman when his second four-year term expires in January. Press Secretary Jody Powell says that his boss has not even begun to consider the succession at the Federal Reserve. But liberals, who want one of their own at the nation's central bank, are unconvinced...