Miller Named Fed Chief Seeks Inflation and Jobs Goals
President Carter picks G William Miller to head the Federal Reserve replacing Arthur Burns. Miller, former Textron chief, vows three aims: cut inflation, reduce unemployment, and stabilize the dollar. Critics flag his lack of monetary policy experience while markets react with a mixed response and a weaker dollar.
MENTIONED IN THIS ARTICLE
New York
Carter
Federal Reserve Board
G. William Miller
Miller
Arthur Burns
Fed
Textron Inc
Shaeffer
Talon
Lyford Cay
Bahamas
Burns
Richard B. Hoey
Leslie M. Alperstein
Federal Reserve
Mr. Burns
Hoey
Alperstein
Uninspired Wall Street Week Typifies 1977 Atmosphere
The week ended 1977 with small gains and mixed yearly results. Dow rose 1.30 to 831.17, down 173.48 for the year. NYSE composite fell 5.38 for the year, Amex up 1.61 to 127.89 as yearly gains and losses diverged. Big Board volume averaged 20.89 million shares daily in four sessions. President Carter named William Miller to head the Fed, signaling potential policy shifts away from Burns. Analysts noted Miller’s background but warned policy impact remains uncertain.
MENTIONED IN THIS ARTICLE
New York
Wall Street
New York Stock Exchange
Amex
Dow
White House
Wall
Also Mentioned on This Page
Negemara
Offce
Bill Miller
Treasury
William Simon
William Proxmire
D-Wis
Senate Banking Committee
Proxmire
Dow Jones
By Ellis Hall
Hall
Yankee Rd
Frank Udvarhelyi
Greathouse
Custom Tailoring
Anthony Allan
Frank
Washington
Bache Halsey
Stuart Shields
Tim
Norris Insurance
N. Verity
Mhandwic
Frost
R” Gas Range
Edcyoed
Litton
Miardwick
CU. FT
Bae
Bectr
KiechanAid
Aterace Comte Gt
Hardwick
Tee
Neve
Wex
Metown
Nawwealy
Clon
Meu