Word: cea
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Dates: during 1970-1979
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...recession, and they pressed for stimulative measures to head it off and help the people who would be most hurt. Arguing for this were Donald Rumsfeld, new staff coordinator, and Robert Hartmann, Presidential Counsellor. They were joined by Economist Paul McCracken, who as Nixon's first chairman of the CEA, helped formulate the original "game plan" strategy of combatting inflation with budget and monetary restraints; that policy slowed the economy but did not do enough to brake prices...
...only half jokingly if Greenspan's rise would lead to Rand's becoming the Administration's primary behind-the-scenes economics adviser. That sort of speculation is dismissed by both Rand and Greenspan. He says he has little contact with Rand now, and even before the CEA job came, meetings were limited to dinners every month or so with her and her husband of 45 years, Artist Frank O'Connor. On these occasions, Greenspan adds, conversation is just "what old friends talk about." Suspending a policy of shunning press interviews, Rand told TIME'S Sarah...
...Witteman elicited views from most of the eight, though some were on vacation and one was on the far side of a creaky phone connection to Copenhagen. Correspondent Berry spent several hours with Alan Greenspan, who resigned from the TIME Board when Ford named him to be the new CEA chairman...
...outgoing chairman of the Council of Economic Advisers, later told the committee that the Administration does not believe that unemployment will exceed 6% during the last half of 1974, but he indicated that it could be higher than that in some months. On the other hand, Walter Heller, CEA chairman under President Kennedy, told the committee that if the Administration sticks to present policies, the jobless rate will probably hit 7% by next year. At week's end, the Labor Department announced that unemployment, after hovering at 5% to 5.2% for six months, had inched...
...passion that a free market functioning on its own without Government intervention is the most efficient and equitable way to allocate goods and services. But he likes to sound out economists who disagree, and he is likely to consult regularly with many of them and run a fairly open CEA. Over the years, Greenspan's ideas have been pragmatically tempered. He does not, for example, think that an immediate return to the gold standard is feasible, as he once did, although he says that the issue is "arguable...