Word: economists
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Dates: during 1970-1979
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...reason the Camp David meeting produced divided counsel was that other economic indicators reflected weaknesses. Acknowledged one Carter economist: "We're having more trouble with diagnosis than prognosis at this point." Housing starts fell from 2 million in December to 1.4 million in February, and retail sales showed little or no growth in January and February. The presence of Federal Reserve Chairman G. William Miller at the conference suggested that the Administration might be considering ways to further restrain consumer credit. The President was granted authority in 1969 to ask the Fed to apply such restrictions during periods...
...profits (see ECONOMY & BUSINESS) as one reason to demand bigger raises. Alfred Kahn, the Administration's top inflation fighter, concedes some merit in labor's claim and protests that "the business community has not been assuming their full responsibility in the anti-inflation fight." However, the acerbic economist contends that any settlement that goes beyond the guidelines would be "an act of aggression against the American people...
Paul Samuelson, 63, economist, Belmont, Mass. He points to studies going back to the 1920s to show that "putting money out at the shortest intervals has been the best hedge against inflation." So Samuelson recommends that investors place their cash in six-month certificates of deposit in savings banks; or in the money-market funds-open-ended mutual funds that invest in short-term securities such as certificates of deposit, commercial paper and Treasury bills-that offer check-writing privileges...
Alan Greenspan, 53, economist, New York City. "First plant cash in short-term CDs, and then plan what to do with it later. Move the money out only if you find better yields elsewhere...
...Government regulation" has become one of the most cited sources of corporate angst. How steep is the price of meeting the proliferating demands and standards imposed by regulators? Estimates of the annual cost of federal regulation alone to U.S. industry have ranged from $79 billion a year (by Republican Economist Murray Weidenbaum) to $135 billion (by the Office of Management and Budget). Some Congressmen have tossed off estimates of $150 billion or more...