Word: beryl
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...president who heads his own economic consulting firm: " To get inflation under control, everyone has to sacrifice. There has to be a willingness by the public to forgo tax relief, tolerate tighter money, and not put tremendous pressure on the Government to step up spending for pet programs." Adds Beryl Sprinkel, executive vice president of Chicago's Harris Bank: "The key question is, what happens when unemployment starts moving up to 7% or 7.5%? Will the Administration have the guts to hang in with a moderate policy that provides some long-term hope that we will get inflation down...
...bills until the recession bites. Even then, the bulls may not let out a full-throated roar. Warns Pechman: "The fact that we are suggesting that late this year may be a time to buy equities does not mean that equity prices will go through the roof." But, says Beryl Sprinkel, "the cheapest assets in this world today are U.S. stocks...
...only member of the Board of Economists to predict a recession next year is Beryl Sprinkel, executive vice president of Chicago's Harris Bank, and he foresees a mild and brief one. His forecast: real G.N.P. will drop 2.4% in the third quarter next year and 3.2% in the fourth quarter, but start back up in early 1980. Alan Greenspan, formerly President Ford's chief economic adviser, also sees a recession?but not until 1980, and then so gentle that it will just about meet the technical definition: two successive quarters of declines in real G.N.P...
...least, the five members of TIME's board interviewed after California's vote say they believe cutbacks in local expenditures for government services are inevitable; most pinched will be those with lower incomes who are the most dependent on publicly financed programs and jobs. But, says Beryl Sprinkel, executive vice president of Chicago's Harris Trust & Savings Bank, "in the long run, the lower-income people will benefit if the cut does what I argue it will: namely, stimulate growth and development in California. It will lead to more jobs and higher standards of living...
...four quarters of 1979, Greenspan forecasts G.N.P. growth rates ranging from 3.3% to 3.9%, and he adds, "We will get into a recession late in 1980." Chicago Banker Beryl Sprinkel reckons that a short and shallow recession will hit much earlier, lasting through the second and third quarters...