Word: feds
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Dates: during 1980-1989
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...assertions that Federal Reserve Chairman Paul Volcker was failing to hold the growth of money and credit to a slow and stable course. Shortly thereafter, Beryl Sprinkel, the Treasury's Under Secretary for Monetary Affairs, let it be known that his department was studying ways to make the Fed more responsive to Administration wishes...
...growth in the nation's money supply this year has indeed tended to overshoot the targets set by the Fed. But only a small, though growing, group of critics outside the Administration believes the problem is caused by the Fed alone. Within 48 hours the White House was all but disowning Sprinkel's anti-Volcker sniping, and even Regan wound up admitting that the Fed's formally independent status "is a good thing." In actuality, the Federal Reserve Board has traditionally followed the lead of the Administration in power...
...government Sunni fundamentalists. If any lasting agreement can be reached in Lebanon, Hussein might become a key man in efforts to work out a settlement for the Palestinians. His formula for solving the problem is to form a demilitarized state or entity on the West Bank that would be fed crated with Jordan...
...were those effete baby students at the Buckley-Galbraith debate (just saw it) on Reaganomics who cheered in support of Reagan's policies? According to the St. Louis Fed, the effects of fiscal policy sum to zip in five quarters. The expansion of the middle 60s was caused by monetary policy, not the tax cut of '64, as any good money and banking text should explain. Supply-siders are incompetent Republican Keynesians who can't even think clearly enough to do bookkeeping. The monetarist analysis is correct--ask any physicist or math major...
...promised to intervene in disorderly exchange markets. "Didn't you notice that?" asked Reagan. No, he hadn't, the Chancellor admitted. Anyway, Reagan went on to argue, even if U.S. interest rates came down, it would be "no panacea" for the world economy. As for the Fed, "we cannot order them not to publish the money-supply figures. They're an independent body, but we'll relay the message." The President finished up with a little homily about "no quick fixes" for the world's economic problems. Said the summit chairman, French President null Mitterrand...