Word: ecksteins
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...been inflicted on U.S. industries, however: foreign imports have become alluringly cheap and American exports forbiddingly expensive. The result: record U.S. trade gaps that could exceed $60 billion this year and reach a staggering $100 billion in 1984. "Having a $100 billion trade deficit is like suicide," says Otto Eckstein, chairman of Data Resources, a Massachusetts-based economic forecasting firm. "It will mean more plant closings and more unemployment." Data Resources estimates that more than 1 million worker layoffs in the past two years were caused by the strength of the dollar...
...Federal Election Commission recently released the names of people who contributed $250 or more to presidential campaigns, with two camps hoasting a prominent Harvard professor in the their ranks. The John Glenn Presidential Committee reported a $362 contribution from Otto Eckstein. Warburg Professor of Economics. Mendale For President received $250 from... Otto Eckstein...
...Actually I gave a small amount to Frits Hollings (Senator from South Carolins) also," Eckstein, who also works for economic forecasting firm Data Resources Inc., said yesterday. "I would like to have a Democrat win," he explained...
...Eckstein, who served on the Council of Economic Advisers under Lyndon, B. Johnson, said he has "no interest to go back to Washington," and that, although he has consulted with all three candidates, he is not formally advising any of them...
...economists argue that fears of a too rapid recovery are overblown. Says Heller: "We have lots of headroom for expansion and no prospect of revived inflation for quite a long stretch ahead." Heller points out that wage costs, a central element of inflation, are still declining. Harvard Economist Otto Eckstein challenges the common assumption that the money supply is expanding too fast. He notes that M2 and M3, two broader measures of money that include various types of savings accounts, are growing within their target ranges. The narrower M1 figures, he adds, may have been distorted by the swift flow...