Word: chairman
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Dates: during 1970-1979
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...Napoleon's generals decamping from Moscow. Their past prescriptions ?tax tinkering and Government deficit spending to prop up demand, wage and price guidelines to hold down inflation?have been as helpful as snake oil. "Things just do not work now as they used to," says former Federal Reserve Chairman Arthur Burns, and who can contradict him? The U.S. economy, bloated and immobilized, has been turned topsy-turvy...
...Federal Reserve Board over the years has jumped back and forth capriciously from tightening the nation's money supply in an effort to slow inflation, to running the printing presses full blast when the economy seemed in need of a lift. But its new chairman, Paul Volcker, seems committed to a more consistent and tougher policy. Last week the Fed lifted its discount rate, the amount that it charges for loans to commercial banks, from 10% to a record 10½%, suggesting that even in the face of a business slowdown the board is at last determined to halt the excessive...
...testifying to a congressional committee, which he often does. Both political parties eagerly seek his counsel. He was an adviser to Jimmy Carter's '76 campaign, turned down a bid to join Gerald Ford's Council of Economic Advisers, and is often spoken of as a future CEA chairman, probably in a Republican Administration...
...Jackson Grayson Jr., chairman of the American Productivity Center
DIED. Frank Peavey Heffelfinger, 81, former chairman of Peavey Co., a century-old Minneapolis grain firm; in Minneapolis. He spent his career in the family business but took time out to serve as regional director of the War Production Board under Franklin Roosevelt and as finance chairman of Dwight Eisenhower's Republican National Committee...