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Burns boosts stock market gains with Fed policy signals
Arthur F. Burns, chairman designate of the Federal Reserve Board, told the Senate Banking Committee that the Fed may reconsider its tight money stance after reviewing the tax reform bill and new budget. His remarks spurred a late rally, lifting the Dow to 789.83 and the broader market on stronger turnover, with top weekly gainers including Chrysler, American Telephone, Atlantic Richfield, Texaco, and Dow Jones index at 1200.
MENTIONED IN THIS ARTICLE
Don Sattle
NEW York
Arthur F. Burns
Federal Reserve Board
Burns
Senate Banking Committee
Federal Reserve
Dow Jones
Wachtel, Bache & Co
Associated Press
New York Stock Exchange
Texaco