Word: feds
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Dates: during 1970-1979
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...least three people turned down the top Fed job: David Rockefeller of the Chase Manhattan Bank, A.W. Clausen of Bank of America and Robert Roosa of Brown Brothers Harriman & Co. investment bankers. The final choice came down to Volcker and Bruce MacLaury, president of Brookings. When Carter phoned Volcker last Tuesday, the banker's main concern was to make sure that he and the President agreed on the independent role of the Federal Reserve. "I am satisfied on the basis of my conversations with the President that he has a good understanding of the problems," Volcker said later...
...class family-his father was city manager of Teaneck, N.J.-and is known to be somewhat parsimonious. His cigars, complain his associates, do not carry a banker-like aroma. (One of his first acts, nonetheless, will probably be to remove the NO SMOKING signs Chairman Miller installed in the Fed boardroom.) Volcker's preferred entertainment is watching sports on television with a beer in hand. Once, when meeting a colleague at a Swiss nightspot, he put off the waitress until their conversation was completed. Then, never having ordered a drink, he complained that the prices were unjustifiable, and stalked...
...navigation, targeting and range. Even more crucial is the ability to survive projected Soviet countermeasures. Explained William Perry, chief of Pentagon Research and Engineering: "We will put these missiles on our radar measurement range and make very detailed measurements of their radar cross sections. The data will be fed into a computer for simulations that predict what kind of performance we will get against different sorts of air defenses...
Samson has been tested in five Atlanta elementary schools and given to ghetto kids who had fallen far behind in learning tests. "But," says Austin, "when we fed the children this drink every school-day morning for four months, their learning curves came right up." The kids stopped sleeping in class. Their attentiveness increased, and truancy declined. Teachers said that at last they could teach-instead of referee fights...
...fellow Georgian Jimmy Carter. Taught himself passable Japanese. Works in an Atlanta eyrie among Oriental antiques and photos of his handsome wife. Spends more than half his time traveling, largely to the 135 countries where Coke does business. Has a rather radical idea: the whole world can be fed, fairly simply and cheaply. In short, there need be no malnutrition...