Word: board
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Dates: during 1960-1969
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...soldier became one of the most vigorous and spirited dissenters against the current regime. Seven months ago when he arrived in Tashkent to act as counsel for ten Crimean Tartars who were on trial for civil rights activities, Grigorenko was arrested for "anti-Soviet agitation." Last week, a medical board in Tashkent decreed that he was "paranoid with symptoms of atherosclerosis" and dispatched him to another asylum-a favorite Soviet prescription for discrediting dissenters. Also reported to be held in a Soviet state institution last week: Ivan Yakhimovich, onetime chairman of a Latvian collective farm, who betrayed his mental aberration...
...years, and since he took office the council has begun running computer calculations about the future course of the U.S. economy based on monetary indicators. Friedman has even closer relations with Arthur Burns, Nixon's choice to succeed William McChesney Martin next month as chairman of the Federal Reserve Board. Friedman studied under Burns at Rutgers, and they have often spent evenings in animated discussion at Ely, Vt. where both own country homes...
...Friedman's monetarist view of economics, the chief instrument for controlling movements of the economy is the seven-man Federal Reserve Board. For months, the board has been following a tight-money policy of unusual severity. A year ago, it began to hold back the growth of the money supply; since midyear, it has permitted no growth at all. Ironically, Friedman's principal complaint is that the Federal Reserve is overdoing the restraints in its effort to cure inflation. "If the board continues to keep the growth of money at zero for another two months, I find it hard...
Because money is so potent, he contends that the board should allow the supply to expand at a fairly constant rate of about 5% a year, in line with the long-term growth rate of the nation's production of goods and services. Last week the Federal Reserve issued some statistics that led even a few experts to conclude prematurely that it had begun to ease its tight-money policy. In reality, the board has done no such thing. It has merely followed its usual policy of permitting a slight seasonal rise to accommodate businessmen's heavy pre-Christmas buying...
Split in the Board...