Word: feds
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Dates: during 1960-1969
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...York Stock Exchange in 1938, President Roosevelt told him: "Your job is the worst in the world-next to mine." After leaving the exchange, Martin served as president of the Export-Import Bank, then as Assistant Secretary of the Treasury. He was named chairman of the Fed in 1951 by Harry Truman-no fiscal conservative...
...Fed, Martin was unhesitating about applying monetary brakes whenever he saw inflation threatening-as, for example, during the Korean War and again last year. Yet it was under Martin that the FRB provided much of the stimulus for the 1960-65 boom by expanding credit and increasing the money supply at an unprecedented peacetime rate. It was that ability-and willingness-to fit policy to contemporary needs that won for Martin the confidence of the banking and business community. And in the last analysis it was that confidence, strongly expressed, that all but forced President Johnson to reappoint...
...knows how many such papers exist, since they appear sporadically, frequently flounder and die for lack of financial support or reader interest. Most of them are started by bright, active youngsters who are fed up with the blandness of official school papers. In Middletown, Conn., for example, High School Senior John Beatman began editing the Omelette-"It Doesn't Fry People, People Fry It"-because students have "no outlet to express any controversy." Beatman, who was once expelled for wearing a beard, collected a staff of a dozen teen-agers from three Middletown high schools with only one viewpoint...
Last week Governor Andrew Brimmer, the Fed's leading speechmaker, addressed a Los Angeles Town Hall audience on the S & L problem. Using strong language, Brimmer put part of the blame for last year's S & L doldrums on the industry's inflexible rate structure and, in some cases, on poor management. One solution, said Brimmer, who was speaking strictly for himself, is to let S & Ls swing more freely with monetary supply and demand. He also suggested that S & Ls should be given a broader lending role. "The 1966 experience," said Brimmer, "stands as a haunting...
...Sacred Cows. In his summing up, Blake suggests that it was this profound disdain for all the sacred cows of English life and government that fed Dizzy's antagonists. Yet, his opportunism and imagination created an impressive political legacy. It was he who first formulated the now-obvious parliamentary principle that "it is the duty of the opposition to oppose." It was Dizzy who wrought the Reform Bill of 1867, giving the vote for the first time to large numbers of the emerging industrial class in Britain. He shaped and dramatized the Tory sense of larger world responsibilities. With...