Word: kellner
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Dates: during 1980-1989
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...dissenters in TIME's poll believe a downturn is already on the way. Irwin Kellner, chief economist for Manufacturers Hanover Trust, forecasts that GNP will contract by 1.5% next year. "Consumer spending is weak and likely to weaken further," he says. "Wages have just not kept up with inflation." Johsen Takahashi, of the Mitsubishi Research Institute in Tokyo, predicts a .5% decline for the U.S. economy in 1988: "The stock market will take another plunge next year, as will the dollar." The outlook, he warns, is "very...
...will have to print substantial money next year to keep the economy out of a recession." But in an election year, when the Administration would plainly prefer a loose monetary policy to pump up economic growth, Greenspan could be accused of playing politics at the expense of prudence. Declares Kellner of Manufacturers Hanover: "The financial markets won't let Greenspan grease the skids for the politicians in 1988. Only if a recession began might the Fed be able to do something. But then that would be already after the fact...
PHOTOGRAPHY: Michele Stephenson (Associate Editor); Mary Dunn (Special Projects); Richard L. Boeth, MaryAnne Golon, Rose Keyser, Julia Richer (Assistant Editors); Linda D. Vartoogian, Helen Eisenberg (Administration); Carmine Ercolano (Operations) Researchers: Dorothy Affa Ames, Martha Bardach, Anne Callahan, Stanley Kayne, Paula Hornak Kellner, Polly J. Matthews, Gary Roberts, Nancy Smith- Alam, Melanie Stephens, Robert B. Stevens, Mary Themo...
PHOTOGRAPHY: Michele Stephenson (Associate Editor); Mary Dunn (Special Projects); Richard L. Boeth, MaryAnne Golon, Rose Keyser, Julia Richer (Assistant Editors); Linda D. Vartoogian, Helen Eisenberg (Administration); Carmine Ercolano (Operations) Researchers: Dorothy Affa Ames, Martha Bardach, Anne Callahan, Stanley Kayne, Paula Hornak Kellner, Polly J. Matthews, Gary Roberts, Nancy Smith-Alam, Melanie Stephens, Robert B. Stevens, Mary Themo Photographers: Eddie Adams, Terry Ashe, William Campbell, Sahm Doherty, Michael Evans, Rudi Frey, Dirck Halstead, Peter Jordan, Shelly Katz, David Hume Kennerly, Neil Leifer, Ben Martin, Harry Mattison, Mark Meyer, Ralph Morse, Robin Moyer, Carl Mydans, James Nachtwey, Matthew Naythons, Stephen Northup, Bill...
PHOTOGRAPHY: Michele Stephenson (Associate Editor); Mary Dunn (Special Projects); Richard L. Boeth, MaryAnne Golon, Rose Keyser, Julia Richer (Assistant Editors); Linda D. Vartoogian, Helen Eisenberg (Administration); Carmine Ercolano (Operations) Researchers: Dorothy Affa Ames, Martha Bardach, Anne Callahan, Stanley Kayne, Paula Hornak Kellner, Polly J. Matthews, Gary Roberts, Nancy Smith- Alam, Melanie Stephens, Robert B. Stevens, Mary Themo...