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Arthur F. Burns (298 words) |
 | The Austrian-born Arthur F. Burns was the prominent and influential Chairmen of the Board of Governors of the Federal Reserve System from 1970 to 1978. |
| It was Burns that effectively undertook the "stop-go" monetary policy of the 1970s which later led him to be succeeded by the ferociously monetarist Paul Volcker in 1978. |
| Burns stayed on at Columbia and the NBER, where he counted Milton Friedman and George Stigler as his students - a remarkable coincidence given that although both of them retained an apparently deep affection for their old professor, their sometimes vituperative criticisms of the Federal Reserve in the 1970s were very much directed at Burns. |
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