MONEY: Ending the Suspense

In rare tandem, the Federal Government's fiscal and monetary policies are currently meshing smoothly together. Early this year President Nixon and his aides decided on a deficit-be-hanged burst of Government spending aimed at stimulating the lagging economy. Testifying before the Joint Economic Committee last week, Federal Reserve Board Chairman Arthur Burns pledged that his independent group would do its part. He confirmed what financial statistics had been strongly suggesting: late last year the board changed policy and is again pushing hard to expand the nation's money supply.

The switch ended what monetarist...

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