Word: beryl
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...likely to continue rising, as the Federal Reserve attempts to remain within its 4% to 6½% annual growth target for money. Thus just as the economy appears to be getting up off the canvas, these higher interest rates are likely to knock it down again. Said Republican Monetarist Beryl Sprinkel, chief economist for Chicago's Harris Trust and Savings Bank: "The interest-rate decline, which was getting under way and making significant progress, has been aborted." Greenspan predicted that the economy could not return to solid growth until mortgage rates declined to about...
...economy. But in an alien context, they merely reaffirm James as a mystery writer. Hers is a tough, literal mind, an exacting memory that knows where files are kept and where administrators hide their short cuts. The free-floating menace and dread in the novels of Diane Johnson or Beryl Bainbridge do not suit James because - like a classic mystery writer - she pins down her characters. Innocent Blood is full of cold people who have too little to do. One lays down the book half-satisfied, but with a chilling conclusion: good novelists rarely write really bad books, but some...
...every turn, the economists found the budget bloated with new spending, much of it camouflaged by various forms of financial and fiscal prestidigitation. They saw the economy itself remaining dangerously inflated, yet in a fundamental sense growing weaker and less productive as the year progresses. Summed up Board Member Beryl Sprinkel: "The budget is far more expansionary than is consistent with anti-inflation policy...
Although President Carter will face tremendous political pressure during election year to curb prices, board members felt that he would not try to impose mandatory wage and price controls, and that any attempt to do so would be disastrous. With the exception of Beryl Sprinkel, who figured that there is almost a 50% chance that the President will go for controls, most board members gave that prospect only a 20% to 40% chance. Carter first would need congressional authority and, as the debate raged on Capitol Hill, businessmen would rush to raise prices to get in under the wire. Further...
...BERYL SPRINKEL: "I'm delighted," says Sprinkel, executive vice president of Chicago's Harris Bank. "The Fed's actions greatly increase the odds of getting inflation under control in the longer run." Sprinkel has long argued that the old policy of trying to control the money supply by fine-tuning key interest rates often forced the board to pump more funds into the economy than it wanted to, thus aggravating inflation. "Now that they are focusing on central control of [banking] reserves," he says, "and assuming they follow through, I think it assures that we are going...