Word: cea
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Worried by the presidential silence, many economists and politicians are urging Nixon to put the jawbone back to work. Walter Heller, onetime chairman of the Council of Economic Advisers, calls Nixon's mild admonitions to labor and business "an open-mouth policy without teeth." Arthur Okun, another former CEA chairman, contends that Nixon has in effect declared "open season" for unions and companies to get all they can. Okun figures that between 1966 and 1968, wholesale prices rose an average 2.3% a year for most industries; they went up only 1.7% in 15 "jawboned" industries, including steel, copper, autos...
Arthur M. Okun, a senior fellow of the Brookings Institution, former chairman of the CEA...
...forecast of board members last December, but just where the Nixon Administration expects it to be. Corporate profits after taxes will drop 5% to 9% below the $50.8 billion of 1969, and unemployment could rise to a peak of 4.5% to 5% late in the year, just about what CEA Chairman McCracken also seems to expect. Okun, Joseph Pechman and David Grove generally support Heller's forecast,* though they disagree on some details. Okun and Pechman, for instance, forecast a 3% to 6% drop in after-tax profits this year...
...Bypass is the most exciting and unique of our projects, and the most likely to insure a long life for the CEA," Strauch said. Because of the upcoming reduction in personnel and the extra time and effort involved in alternating projects on the CEA accelerator, he added, "continuing the other projects would slow down Bypass...
electron beams simultaneously into the CEA accelerator...