Word: bosworth
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...inflation has been growing in recent months, and there are indications that the White House may now be ready to take at least a slightly more active stand against rising living costs. One sign came last week when the Senate approved the President's appointment of Barry P. Bosworth, 34, a Brookings Institution economist, to succeed Michael Moskow as chief of the Council on Wage and Price Stability. The council, a relic of the free market philosophy of the former Administration, has no power of enforcement and has been less than vigorous in exercising its authority to review wage...
...wiry, ruddy-faced redhead, whose shock of tousled hair makes him look about ten years younger than he is, Bosworth has packed a lot of experience into his relatively short career. A protege of Charles Schultze, chairman of the Council of Economic Advisers, Bosworth got his first taste of Government work as a staff member of the CEA in 1968, while he was still working toward a doctorate in economics at the University of Michigan. He joined the faculty of Harvard University in 1969 and stayed until 1971, when he left to sign on at Brookings...
...Bosworth comes to his job as the nation's top inflation fighter at a jittery time. Despite falling food prices, the Consumer Price Index has been racing upward at an annual rate of 8.1 % over the past three months, well ahead of the Administration target of 6.5% for this year. The most faithful White House aides are now skeptical that the President will achieve his goal of reducing inflation to 4% by 1979. One reason: many economists fear that the combination of taxes and price boosts in Carter's energy program will only add to living costs...
...Bosworth defends the Administration's cautious approach to inflation so far, but he is determined to have the council play a more aggressive role from now on. For example, to provide the White House with a sharper picture of inflation, the council will begin keeping an "early warning index" by charting day-by-day cost and price developments in a few bellwether industries such as steel, autos and construction. Says Bosworth: "In the past, the council churned out studies and recommendations that may have been good but went nowhere. My job is to see that our work gets transmitted...
Murphy and Andrew Bosworth, secretary of the Cambridge Firefighters Union, said yesterday they do not think the City Council is seriously considering a residency rule directed at either of their departments. Murphy said if the council adopts such a rule, "Of course we'd fight...