Word: mcchesney
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Dates: during 1960-1969
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...exercise had a this-is-a-recording tone, but the White House sent in the first economics team anyway: Treasury Secretary Henry Fowler, Budget Director Charles Schultze, Federal Reserve Chairman William McChesney Martin and Chairman Gardner Ackley of the Council of Economic Advisers. For two days, the witnesses piled statistic on projection to prove essentially two points: that without the tax increase inflation will grow ever more serious, and that the added revenue is sought not to finance new spending programs but to hold the federal deficit to a manageable figure...
...that time, the U.S. will be able to drift away from the gold pool and greatly lessen the monetary emphasis on gold, thus ridding the world of much of the alarm, speculation and instability caused by what William McChesney Martin calls "that barbarous metal." Most bankers and economists believe that the major monetary trend of the future will be a shift away from gold and toward a truly international paper currency, supported by contributions of currencies from all major nations. When that happens, money will be regulated by men instead of metal, and the value of each nation...
Having decided to switch from mild restraints to harsh controls, Johnson cloaked his planning in warlike secrecy. While the President was in Australia, Treasury Secretary Henry Fowler, Commerce Secretary Alexander Trowbridge, Secretary of State Dean Rusk, Federal Reserve Board Chairman William McChesney Martin Jr. and White House Aide Walt Rostow stitched to gether a list of recommendations...
...international pressures on the dollar created by the devaluation of the British pound. Many observers saw it also as a domestic signal that the Fed was disturbed by inflationary pressures that continued to rise even as Congress was refusing to pass a surtax. Last week Federal Reserve Chairman William McChesney Martin and his governors tipped another signal that they are worried about inflation. The board ordered an increase in the reserves of its member banks. The order affected about 2,000 banks -those that have demand deposits of over $5,000,000. Under it, in two steps this month...
...businessmen for allegedly rigging the stock of two small companies traded on the American Exchange. Alex C. Caldwell, administrator of the Agriculture Department's Commodity Exchange Authority, which supervises commodity trading, has asked Congress for stricter powers. And no less an overseer than Federal Reserve Chairman William McChesney Martin chose the 175th anniversary celebration of the New York Stock Exchange to warn against suspiciously speculative activity among professional traders, which Martin finds "disquieting." Last week, as market averages reached new highs, Martin sent up another warning rocket, telling the House Ways and Means Committee that there is "an unwarranted...