ABC Evening News for Friday, Oct 17, 1969
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(Studio) William McC. Martin, 62, resigns as Federal Reserve Bd. Chairperson President appts. Dr. Arthur Burns as his successor. Martin served under 5 President for 18 years Only J. Edgar Hoover and Lewis Hershey have served longer in DC. Burns, 65, is Prof. of Econ. Advised Eisenhower on economy and serves as Counsellor of Domestic Affairs for President Nixon. Take-over in January
REPORTER: Howard K. Smith
(Studio) Change means; President to have broader command of economic policy, as his and Burns' policies are the same, some relaxation of tight money, and shift to slow increase of $ available in economy Means less shift from boom to hard time and back again.
REPORTER: Louis Rukeyser
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