Business: The Burns-Carter Not-Quite Fight

They fell out on money, but try to cool it

Are President Carter and Federal Reserve Board Chairman Arthur Burns battling like Muhammad Ali and Joe Frazier? Well, not quite. They do have their differences, and serious ones. Two weeks ago, the White House indicated that further tightening of the money supply by the Federal Reserve might endanger the U.S. economic recovery. Last week Burns replied somewhat testily. In a speech at Gonzaga University in Spokane, Wash., he said he had no intention of "letting the money supply grow at a rate that will fuel the fires...

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