Search
About Us
We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

Learn more about our bank >
Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

Learn more about Economic Research >
- Events
- Contacts
Banking & Supervision
We help ensure our financial system is operating safely and effectively, and we help support secure and efficient methods to transfer your funds through our financial system.
Education
We work with teachers, students and the public to enhance understanding of economics, personal finance and the Federal Reserve.

Learn more about resources, museum visits & educational programs >
- Resources & Programs
- Field Trips & Classroom Visits
- Events
- Contacts
Community Development
We work with community partners to identify and address economic challenges and opportunities in low- and moderate-income communities in the Fifth District.

home > publications > research > economic quarterly > 1998 > winter >

Economic Quarterly

Email Notification + Share

twitter

facebook

Winter 1998

Arthur Burns and Inflation

Robert L. Hetzel

Download article

Arthur Burns, Chairman of the Federal Open Market Committee of the Federal Reserve System from February 1970 until December 1977, was fiercely opposed to inflation. Yet, over his eight-year tenure, prices increased at an annualized rate of 6.5 percent. Why? One reason was Burns's belief that inflation arose from a variety of special factors, each of which was largely out of the control of the Federal Reserve.

Lisa Kenney
(804) 697-8179

Economic Quarterly

Winter 1998

Arthur Burns and Inflation

Get Our Free Publications