Word: chairman
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Dates: during 1960-1969
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Flirting with Recession. The question that bothers some fellow economists is whether Burns will demonstrate the necessary flexibility and adopt an expansionary policy at the right time. His record in that respect is mixed. Intellectually, Burns recognizes the Government's obligation to maintain prosperity. As chairman of President Eisenhower's Council of Economic Advisers from 1953 to 1956, he agreed to increases in Government spending and in the credit supply that his successor, Saulnier, thought were too expansionist. In early 1960, he advised Nixon, then Vice President, that federal spending should be increased and credit eased to head...
...Nixon raises a somewhat ironic problem. The Federal Reserve is supposed to be independent of the President, and those who cherish this concept usually worry that the President might put too much pressure on the Board. In Burns' case, the question might rather be whether the Federal Reserve chairman would put pressure on the President...
...stay on that course too long. Burns will unquestionably continue to have Nixon's ear. But there is some doubt in Washington about what will happen when the President decides that the time has come to switch from anti-inflation to antirecession policies-and quietly calls on the Chairman of the Federal Reserve to ease up on money. At that time, will Nixon have the ear of strong-willed Arthur Burns...
...custom-tailored bankers and brokerage-house partners joined their clerks and college students in a peace march, braving the jeers of hard-hatted steamfitters who tried to stage a counterdemonstration. The peace marchers jammed into a memorial service at Trinity Church, where Investment Banker Andre Meyer, Ogden Corp. Chairman Ralph Ablon and other high executives read the names of war dead from the pulpit...
...house of Pergamon Press Ltd., Britons viewed him as a brash Yankee millionaire-one of those action sculptors who hammer out free-form conglomerates. This impression was fortified by Leasco's on-again, off-again tactics. After withdrawing the offer in a falling-out with Pergamon's chairman, Robert Maxwell, with whom he had originally got on well, Steinberg lined up enough support from British institutional investors to oust Maxwell at a stormy meeting two weeks...