Money Master: Arthur F. Burns: 1904-1987

Arthur F. Burns: 1904-1987

Though often thought of as an implacable conservative, Arthur Burns, the Federal Reserve chairman under three Presidents, was most of all an economic pragmatist. While the pipe-smoking Burns, who died last week at 83 of complications following triple-bypass heart surgery, sometimes veered from being the crusty advocate of fiscal restraint to being a cautious fueler of the money supply, he always regarded inflation as the chief economic enemy of a democracy.

A native of Austria, Burns taught at Columbia University for two decades until 1953, when he was picked by Dwight Eisenhower to head his Council of Economic Advisers. Burns' most...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!