Word: ackley
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...Council of Economic Advisers earlier this year unanimously favored some form of tax increase to deflate demand and take some of the pressure off the money market, but the President overruled it. Feeling that he was not equipped to deal with the political aspects of the problem, Chairman Gardner Ackley said nothing in public to betray his real feelings...
...from Ideal." The official obituary to the guidepost policy was written at week's end by Gardner Ackley, chairman of the President's Council of Economic Advisers. In a speech prepared for summer commencement exercises at the University of Michigan, Ackley said: "The policy we have relied on-our wage and price guideposts-is surely far from ideal, and has recently suffered some stunning defeats. But what is more disappointing than the specific defeats is the absence of much apparent recognition on the side of either-labor or management that this problem must be solved...
...change may prove temporary, but it pleases businessmen, bankers and Government leaders. Says Chairman Gardner Ackley of the White House Council of Economic Advisers: "This slowdown is expected-and welcome...
...latest count, which covers the first quarter of the year. Between January and March the gross national product rose by a worrisome $17 billion, which would work out to 91% a year; during the second quarter, it climbed by a less inflationary $10 billion, or 5.5% a year. Ackley and other White House economists expect the economy to expand at only about half that rate for the rest of the year...
...Harvard Economist John V. Lintner. "Business is very strong." Echoes James Robertson, vice chairman of the Federal Reserve Board: "Too much is being made of the auto figures and the market performance. When matched with other straws in the wind, neither of these developments means much." Even so, Gardner Ackley, the President's chief economist, says: "Some of the tremendous exuberance has gone out of the economy. Attitudes are much less boomy than they were...