Word: fowlers
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...determined not to see any such handwriting. He pointedly avoided any mention of devaluation in Washington and shunned the word crisis to describe the pound's troubles. Callaghan swapped political stories with Lyndon Johnson for 45 minutes, talked about the pound's situation with Treasury Secretary Henry Fowler, weighed in with Washington's moneymen in a round of dinners, luncheons and conferences. He also dined privately in Manhattan with 30 financial and business leaders. "Short of something cataclysmic," he said, "there is no reason why we should be in trouble...
...everyone accepts Keynes as gospel. Treasury Secretary Henry Fowler refuses to be classified as Keynesian; he does not believe that debt necessarily leads to development, or that surplus necessarily leads to deflation. Economist Raymond Saulnier of Barnard contends that the economy has been expanding not because of Keynesian policies but largely because U.S. business has increased productivity faster than U.S. labor has pushed up wage costs-with the result that prices have held relatively stable. But even economic conservatives have lately accepted the idea of using deficits to stimulate the economy in slack years. Sighs Virginia Senator Harry Byrd: "Franklin...
...University of Maryland economics professor who took over the job on June 1, to close the books on the world's largest budget with a deficit of $3.8 billion, $2.5 billion below January estimates and the smallest deficit since 1960. It also pleased-and puzzled-Treasury Secretary Henry Fowler and caused the Treasury to begin a re-examination of its entire estimating procedure. Says Fowler: "If there had to be that big an error, I'd much rather have it on the plus side than on the deficit side." Where on earth did the extra money come from...
...Manhattan also, Treasury Secretary Henry Fowler used a different kind of forum - the National Conference of Christians and Jews - to make tempting talk of possible further income tax cuts. Vice President Humphrey said in a television interview from London: "I think that Mr. Martin is wrong." At week's end, President Johnson issued four bullish press releases in one day, devoted about 15 minutes of his press conference to praising the economy. Lesser lights in the Administration were sent out to make glowing economic predictions on platforms from Buffalo to Barcelona...
...midweek, Giscard flew off to London to talk about the problem with British Chancellor of the Exchequer James Callaghan. Next week Callaghan will arrive in Washington to discuss the subject with Treasury Secretary Henry Fowler. The signs are unmistakable that most leaders of the West agree with Douglas Dillon that "there is no longer any time to dally" about finding a substitute for dollars and pounds to finance the world's growing business...