Word: ifs
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Dates: during 1970-1979
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The chances of such a crunch developing would be somewhat higher if the Federal Reserve continued its now discarded practice of trying to manage the money supply by juggling interest rates Reason: in a slowdown, demand for money necessarily eases off at least somewhat and interest rates subside. But to...
Some economists now wonder if the nation has so successfully insulated itself from a 1929-type depression that it is condemned to 13% or worse inflation. Robert Heilbroner argues that the postwar measures to avoid another Crash and Depression have "put a floor under the downward movement of the economy...
BERYL SPRINKEL: "I'm delighted," says Sprinkel, executive vice president of Chicago's Harris Bank. "The Fed's actions greatly increase the odds of getting inflation under control in the longer run." Sprinkel has long argued that the old policy of trying to control the money supply...
ROBERT TRIFFIN: "Controlling the money supply is the best way to fight a recession," says this international money expert. "Certainly, initially, if we are to brake inflation, there will be some difficult periods to go through. The sooner, the faster we do it, the less gradual approach we adopt, the...
WALTER HELLER: "I think the Fed got itself in a position where it had to do this," says the University of Minnesota professor who was President Kennedy's chief economic adviser. "If they had done any less, the world markets would have responded terribly negatively. Yet the costs are...