Word: businessmen
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Dates: during 1970-1979
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Although the Class is as heterogeneous professionally as it is politically, the occupations and the $40,000 median income are about what one would expect of typical Harvard classes, past or present. There are numerous businessmen, doctors and lawyers, several professors and government officials, a sprinkling of clergymen, architects, city planners and psychoanalysists. There is a president of a turkey hatchery and a candy manufacturer. There is a surgeon, Stephen E. Hedberg, who believes his peers thought their futures were set 25 years ago, and that they had no idea of the changes in values, customs and ideals they would...
...week by Budget Director Bert Lance, who complained that the Fed's stinginess has prompted major banks to raise lending rates for their best customers to 6.75%, up from 6.25%. Lance believes that the increases could worsen inflation and weaken the recovery by pricing loans out of many businessmen's reach...
...York: "The spending plans of Congress and the proposals by the Administration are a parade of inflationary announcements. Somebody has got to hold the line on spending." Carter has promised to do just that by vetoing bills that he considers to be too costly. But he further added to businessmen's fears last week by stepping up his support for a consumer protection agency, which most of them believe would increase their costs (see story page...
...projects: a new federal agency to guard consumer interests. The target of Carter's angry words was none other than the U.S. business community, whose support he has been ardently seeking since he took office. Led by the U.S. Chamber of Commerce and the National Association of Manufacturers, businessmen have mounted a lobbying campaign that may kill the agency's chances...
...clout in the new Administration is the possibility that Carter could be deftly stroking the Federal Reserve chairman in an attempt to influence him. Carter needs Burns' help if he is to meet his goal of balancing the budget by 1981. Carter also appreciates Burns' ties with businessmen. Says one veteran Fed watcher, William LeFevre, senior analyst of Wall Street's Granger & Co. brokerage house: "Burns is Carter's best avenue into the banking fraternity, where Carter would clearly love to be accepted...