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Politics : Ask Michael Burke
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To: LTK007 who wrote (82912)8/14/2000 10:41:26 AM
From: Thomas M.  Read Replies (2) of 132070
 
It depends on the particular Fed chairman, on his ethics as well as his political power. Arthur Burns did goose the economy for Nixon, and damaged the Fed's credibility in so doing. Paul Volcker, on the other hand, crushed the economy in 1979, and in the process severely damaged Carter's reelection campaign.

Tom
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