Word: hellers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...reached a climax at a time when the U.S. economy is bedeviled by uncertainties. On the plus side, the battle against inflation continues to go well. Price rises, which reached a peak annual rate of 17% in early 1980, now seem safely in the 6% range. Said Walter Heller, chief economic adviser to Presidents John Kennedy and Lyndon Johnson: "We have had a real structural improvement in inflation. We have gone through a watershed." The TIME board saw prices increasing at 5.3% annually by the end of the year, with inflation at a modest 5.5% by the middle of next...
Although most board members continued to stick to earlier growth forecasts of about 3% during the fourth quarter, all agreed that any such recovery would be vulnerable to the slightest setback. Said Heller: "The strength of the recovery, in a word, will be lousy." Rimmer de Vries, chief international economist for Morgan Guaranty Trust Co., doubted whether the economy had bottomed out at all. Said he: "I think we have not got to the end yet. I do not think recovery will really come until...
...Heller argued that next year's 10% personal income tax cut should be canceled in order to reduce the deficit and permit more money growth. But Board Member Charles Schultze, former chief economic adviser to President Jimmy Carter, warned that the tax cut may be needed to give a weak economy some help. He explained, "Until you get a better sense of monetary policy and the likely strength of the recovery, Congress ought not to be in any big rush to raise taxes. You just cannot hit too hard on fiscal policy if you are still hitting hard...
Several of TIME'S economists had slightly differing interest-rate outlooks. Charles Schultze said that a fairly strong economic recovery could cause a new surge of credit demand that might send the prime rate back up again. On the other hand, Walter Heller predicted that while short-term rates like the prime might creep lower a bit, a further cooling of inflation would result in somewhat lower long-term interest costs throughout next year...
...Transcript of grand jury questioning of Susan Atkins, in Vincent Bugliosi, Heller Skelter...