It is with regret that I accept your resignation as a Member and Acting Chairman of the Council of Economic Advisers, effective at the end of this month.

The past four years have seen great changes not only in the substance of economic policy but, more importantly, in its direction. You have been an important and valued adviser throughout this period when we have been turning once more to the creative energies of individuals in the marketplace to provide our Nation with stable, long-term growth.

As a distinguished professional economist who advised me even before I became President and as a longtime defender of the principles of a free society, you have done an outstanding job of helping me to craft sound economic policies. I believe that the change in direction we have instituted during the past four years will continue even beyond this Administration, and I want to thank you personally for the excellent job you have done as one of my principal advisers.

Nancy joins me in sending you our best wishes for every future success and happiness.

Sincerely,

Ronald Reagan

[The Honorable William A. Niskanen, member, Council of Economic Advisers, Washington, DC. 20506]

B

March 1, 1985

Dear Mr. President:

I hereby submit my resignation as a Member and Acting Chairman of the Council of Economic Advisers, effective at the end of this month.

I have been honored to serve you as an economic adviser over the years since you first recruited me as a member of the group to draft Proposition 1. Your consistent support of the principles of a free society has changed the debate about the economic role of the government. Stay the course.

Sincerely,

William A. Niskanen

Member

[The President, The White House, Washington, DC.]