Word: mcchesney
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Dates: during 1960-1969
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Last week Johnson conferred at the ranch with his economic advisers, including Treasury Secretary Henry Fowler and Federal Reserve Board Chairman William McChesney Martin, sent word back to Administration officials in Washington to cut back on spending-though next year's budget is almost certain to break all records. As Mahon pointed out, Johnson's Great Society is the area most susceptible to economizing but even so it seemed doubtful that the President could wring out meaningful savings unless he curtails major welfare programs or pet projects such as highway beautification...
...visible examples of Washington's increasing use of guidelines to force restraint on industry. Businessmen have been grumbling about the "voluntary" controls in business spending abroad, and the Foreign Trade Council last week called for their abolition. Almost simultaneously, Treasury Secretary Fowler, Commerce Secretary John Connor and William McChesney Martin Jr., chairman of the Federal Reserve Board, appeared together to announce some bad but expected news: the nation's balance of payments, after running a brief surplus in the second quarter, showed a $485 million deficit during the third quarter. That was 30% larger than the Administration...
...estimate is optimistic, but even France's Finance Minister Valéry Giscard D'Estaing admitted: "The ice floe on reform has at last broken. People are now ready to talk business." Perhaps it was symbolic that, in their off-hours Fowler and Federal Reserve Chairman William McChesney Martin played a brisk match of tennis against Giscard and his deputy, André de Lattre. Score: 6-3, 6-3, for the Americans...
Reserve Primacy. In the rising chorus of voices for reform?joined last week by the IMF and Federal Reserve Board Chairman William McChesney Martin Jr.?the strongest and most influential belongs to the chief financial strategist of the monetary world's most powerful member: Henry Hamill Fowler, 57, the 58th Secretary...
...measure of the market's uncertainty was the unwarranted attention it continued to pay to even the remotest news event or speech. Washington kept on trying to calm that uncertainty. After lying low for a while, William McChesney Martin Jr., who helped to precipitate the sharp market drop with his speech citing similarities between the current economic situation and that of the 1920s, joined the calming team. President Johnson had him conspicuously on hand when he signed the excise-tax-cut bill, passed him one of the pens. Next day, Johnson trotted out Martin (along with several Cabinet officers...