Deferring some "reforms " and dallying on Burns
If Jimmy Carter were Santa Claus, the American business community would be asking him for two Christmas gifts. One is a tax cut to stimulate profits, investment and employment. The other is the appointment of an inflation-fighting conservative to head the Federal Reserve Board, preferably the patriarchal incumbent, Arthur F. Burns. Last week the President went halfway; he promised to call for a tax cut in 1978. But the future of the Fed chairmanship remained a tantalizing question.
At his press conference, Carter said that "in 1978,...
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