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The Turbulent Tenure of Arthur Burns
This chapter examines the challenges faced by Arthur Burns during his time as Federal Reserve chair in the 1970s, highlighting the tension between controlling inflation and avoiding recession. It discusses the political pressures from President Nixon and alternative views on Burns' leadership decisions, including the implications of his policies on the economy. The narrative reflects on the severe economic turmoil of the era, linking historical inflation experiences to present-day monetary policy strategies.