Word: ceas
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...Senate Banking Committee, which is expected to approve his appointment, Greenspan will place all stock he owns in his firm in a blind trust over which he will have no control. Thus he faces a big financial sacrifice that will not be offset by his $42,500 salary at CEA. Profits earned by his firm while he is away will be lost to him forever-distributed to employees and charities...
...Leaders. In addition, it seemed all but certain that the President would soon bring fresh leadership to the White House and name Alan Greenspan, a respected conservative economist and unofficial Nixon consultant, to succeed Stein as CEA chairman. The appointment will probably be announced soon. If, as expected, Greenspan is approved by the Senate Banking Committee, he will take up his new duties by September, when Stein returns to the faculty of the University of Virginia...
Unlike almost all past CEA chiefs, who were academics, Greenspan is a Manhattan business consultant who heads his own firm, Townsend-Greenspan & Co. Quietly persuasive, erudite and a master of detail, Greenspan will join the White House after declining several previous invitations with the understanding that his views will carry substantial weight. Among many economists, Republican and Democratic, Greenspan's appointment would be seen as a gain for the Administration. Walter Heller, who under President Kennedy was probably the most effective CEA chief, believes that Greenspan has "as good qualifications as any conservative economist you can find...
Greenspan's appointment would come at a time when the CEA's reputation among Economists and Congressmen is at an alltime low. Created under the 1946 Employment Act in part to provide the President with the best professional advice on reducing the jobless rate, the council has had its share of controversy. For example, Congress became so antagonized by CEA Chief Leon Keyserling's partisan support of Truman Administration policies that President Eisenhower let the council go out of business briefly...
...CEA boss, Greenspan would probably want to keep a low political profile and work for bipartisan support of White House programs. He sees the chairman's job as "strictly that of an adviser, not a policymaker or a propagator of policy." Yet Greenspan would be by far the most knowledgeable of Nixon's top economic aides, none of whom are economists. It is likely that, willingly or not, he will quickly become the Administration's chief economic spokesman...