Word: leste
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Resigned last week: Percival F. (for Flack) Brundage, 65, earnest, tightfisted director of the Budget Bureau since April 1956. Lest it be concluded that his quitting was prompted by disagreement with the Eisenhower Administration's handling of the recession, Percy Brundage, in his letter to the President, explained that "my immediate predecessors set an example of resigning after a few years to give opportunity for administration to others with a fresh viewpoint. Since I have now served somewhat longer than either of them [i.e., Joseph Dodge. Rowland Hughes] and since I must attend to some personal matters that have...
...airliner from Cairo touched down at Damascus airport early last week in routine arrival. To the astonishment of Syrians at the field, out stepped Egypt's Strongman Gamal Abdel Nasser, new President of the United Arab Republic. Nasser had found it wise to come unexpected and in secret, lest the Israelis be tempted to have a shot at his plane as it crossed the Mediterranean from Egypt to Syria. Syria's ex-President Shukri el Kuwatly, awakened and told of the arrival, was so taken by surprise that he was still unshaven and in his dressing gown when...
...chose to tread cautiously,"lest it relax credit too much. The cut in reserves puts the banks in about the same position as they were at the bottom of the 1953-54 recession when FRB also cut reserves to ease credit. The result was a sharp pickup in business. If last week's cut does not spur business, FRB was in a mood to cut some more. But despite spreading unemployment it still planned to move slowly. Warned Martin: "We must recognize that excessive stimulus during a recession can sow seeds of inflation that can jeopardize our long...
Keynesian economics, for many years a dirty word in the Republican Party's rhetoric, has been accepted by the Administration more as a playtoy than an effective method of economic management. Fiscal policy planning is an awesome thing, something to be handled gingerly lest it dull all sensibility and impose itself on the player's mind...
...main argument is over how much help the U.S. Government should give private industry. AEC's position is that nuclear power for peaceful purposes should be largely a private venture, with AEC supplying only limited funds. Originally, businessmen supported the idea, lest nuclear energy grow into a giant public-power program. Now their position has changed. Even the stoutest private-power men feel that the program needs a strong infusion of Government aid because commercial nuclear power is so new, so complex and so costly that private companies cannot carry the burden alone. Says President Newton I. Steers...