Word: cea
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Dates: during 1960-1969
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John J. Arena, visiting lecturer on Political Economy last fall, will also serve on the six-member CEA staff next year. Now with the Federal Reserve Bank in Boston, Arena will work for the Council in the field of monetary policy...
Currently, Otto Eckstein, professor of Economics, is one of three members of the CEA. Lester D. Taylor, assistant professor of Economics, and Lester C. Thurow, who will be an instructor in Economics next year, are now on the Council's staff...
...what will surely be one of the year's most controversial studies: a report on steel price increases and their effect on inflation. Aware that the report, no matter what its conclusions, is bound to displease either business or labor, the Chief Executive shrewdly handed it to the CEA rather than have it prepared by his personal staff. He will thus be able to keep himself somewhat apart from its conclusions, using them as he sees...
...exerts power and influence far beyond its size. Last week the Council's members worked late into each night helping to prepare the budget and the President's annual economic message to Congress. Ranging from high policy to day-to-day chores, the CEA keeps the President informed on the latest wiggles on the economic charts, makes recommendations for major economic moves, and provides a large part of the statistics that the President loves to release. Says Ackley: "The President has learned we can do things no one else can do. He likes the idea of having...
...Gadfly. Ackley is backed up by two bright young economists: German-born Otto Eckstein, 37, and Arthur Okun, 34. Eckstein came to the Council last September from Harvard, where he was editor of the prestigious Review of Economics and Statistics. He will be the CEA's gadfly, probing new ways to bring economic policy to bear on such old problems as unemployment and the balance of payments deficit. Okun, a former Yale economist, is a tall, professorial type who before his appointment last November was best known for his pioneering explanation of the gaps between actual and potential gross...