Word: economists
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Dates: during 1980-1989
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...that he was "troubled by the extent of the political pressure being put on the Fed by the Reagan Administration in this presidential election year." When questioned about such pressure, Greenspan acknowledged that he and other Fed officials had received a letter in January from Michael Darby, the chief economist on Baker's Treasury staff. Darby argued that the Fed was being too restrictive with the money supply and should loosen up to avoid a recession. Greenspan testified that he had "objected quite strongly" to the letter and had called the White House to complain that it was improper...
...controversy swirled around the alleged pressure on the Fed, Baker kept quiet. Privately, though, Administration aides were appalled that the issue had flared up. Whether or not Baker agreed with Darby's views, the Secretary apparently had not authorized the economist's letter and was annoyed at the ham-fisted effort to influence the Fed. Baker reportedly told Darby that he was out of line...
...vast amount [of the tuition increases] is tomatch inflation affecting college costs," said D.Kent Halstead, an economist for ResearchAssociates, a Washington-based public policythink-tank. "Public schools certainly aren'tgreedy and a whole bunch of smaller privateuniversities have to raise tuition fees just tocover their costs...
...shuffle, coupled with drastic price increases, left many of the country's 3.3 million citizens baffled and worried about their purchasing power. A gallon of gas that used to cost the equivalent of 16 cents, for example, now costs $1.50. Explaining the decision to change the currency last week, Economist Mario Arana declared, "Things were so grave that we had to do something. The question was whether to make it a shock or a gradual adjustment. We decided on a shock...
...restructuring), however, that ultimate Kremlin status symbol of privilege and power will soon be a memory for thousands of bureaucrats. The Soviet Council of Ministers last week ordered the government's automobile fleet slashed by 40% in Moscow and 20% elsewhere in the country beginning July 1. Says Soviet Economist Abel Aganbegyan: "This is a way to pursue social justice. Politicians must expect to lose their privileges...