Word: brafman
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Dates: during 1983-1983
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...equally savage blast comes from Michael Evans, chief economist for the Wall Street investment firm of McMahan, Brafman, Morgan & Co. Evans, a fallen-away supply-sider, blames high unemployment on the monetarist theories of 1976 Nobel Laureate Milton Friedman, who holds that slow and steady money growth is the key to economic health. Evans charges that some overzealous Friedman followers believed that the money supply could be squeezed without harming the economy. Says he: "Those people are now proved to be nuts, and they're gone forever. That aspect of monetarism belongs on the trash heap of economics...
...other hand, many experts believe that such fears are premature. Says Michael Evans, chief economist of McMahan, Brafman, Morgan and Co., a New York securities firm: "With the economy so weak, I think the Fed is just plain too scared to do anything except keep pushing out money for the foreseeable future. We've seen 15% money growth in the last quarter with no recovery in sight, so they'll probably keep pushing. To put it bluntly, the Fed will continue to buy up the Government's debt...