Arthur Burns, Chairman of the President's Council of Economic Advisors, yesterday told a School of Public Administration audience that there are many reasons to believe the current business contraction will come to an early end.
Speaking before a capacity crowd of over 300, Burns warned, however, that the "history of the nation's economy is strewn with abortive recoveries."
Unemployment Relief Boost
Burns, Eisenhower's key economic aide, said the present economic decline reflects a drop in business inventory spending. The president's recent report on the country's economy, he said, provided for meeting this decline with such measures as expansion of unemployment relief. Burns also stressed that final expenditure has remained steady in the past nine months.
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