Word: lyle
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...deficit, since spending cuts could aggravate the slowdown. Unfortunately, a decade of annual budget deficits of more than $100 billion has shifted the burden of controlling the economy almost completely to the Federal Reserve Board. "The problem is that we have only monetary policy to rely on," says Lyle Gramley, chief economist for the Mortgage Bankers Association and a former Fed governor. "It would be wonderful if we had a $100 billion budget surplus, so that we could have a small tax cut to stimulate the economy instead of having to rely on interest rates...
...latest skirmish erupted last week in San Francisco, as parishioners of St. Francis Lutheran Church voted 46 to 5 to call a lesbian couple as assistant pastors: Ruth Frost and Phyllis Zillhart, both graduates of Luther Northwestern seminary in Minnesota. Bishop Lyle Miller refuses to approve them as ministers because they will not commit themselves to sexual abstinence. The congregation, half gay, will have to ordain the women on its own, defying both the ordination rules of the 5.3 million-member Evangelical Lutheran Church in America and its policy against "homosexual erotic activity" among ministers...
...when it comes to capturing a team's locker-room atmosphere, Golenbock, the co-author of Yankee-bashing books like Sparky Lyle's The Bronx Zoo and Graig Nettles' Balls, has no peer. If you're interested in college athletics or just want to read a horror story about power abuse, make a fast break to Personal Fouls...
Rather than disavow the Budget Director's comments, Bush told a news conference on Tuesday that "I can feel very comfortable with his sallying forth and saying that." While Darman's critique was not directed at Greenspan personally, former Federal Reserve Governor Lyle Gramley thinks the ploy may backfire. Said he: "The Fed cannot be seen as knuckling under to pressure from the Administration...
...short-lived and will be followed by renewed growth, a scenario that has them searching for metaphors. David Hale, chief economist of Chicago's Kemper Financial Services, characterizes the slowdown as an "output pause." Geoffrey Moore, an economics professor at Columbia University, talks of a "stutter step." Economist Lyle Gramley, a former Fed governor, says that by late 1990 the slowdown may be followed by a period of "economic refreshment...