Word: mcchesney
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Dates: during 1960-1969
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Chaos & Catastrophe. "The economy is moving on a course of rapid expansion," said William McChesney Martin, chairman of the Federal Reserve Board and the man who most of all persuaded the President to seek the surtax. Listing rises in retail sales, personal incomes, housing construction and industrial production, an increase in inventories and order backlogs and a drop in unemployment, Martin found "clear and compelling evidence" of inflation. "An environment of rampant inflation," warned former Treasury Under Secretary Robert V. Roosa, "will afford little opportunity for the considered development of any national policy, domestic or foreign." Roosa forecast economic dislocation...
...Federal Reserve Chairman William McChesney Martin, looking uncommonly cheery, hailed the agreement as a "milestone," U.S. Treasury Secretary Henry Fowler was positively expansive. Said he: "This is the most ambitious and significant effort in the area of international monetary affairs since Bretton Woods...
...authorized the Fed action, Chairman William McChesney Martin, has recently stated that the "main need of the economy" is prompt action by Congress on the Administration's tax plan. Because there is always considerable opposition in Congress against such unpopular tax proposals, it is one that much be hard pushed. Otherwise, the Fed will have to depend on its own monetary solutions. No doubt Congress will reduce the 10 per cent figure to six or eight per cent before voting on it; even at 10 per cent it is no panacea: the tax hike will not eliminate the deficit...
...interesting watershed for the much manipulated U.S. economy, two of the nation's most prestigious economic voices last week prescribed the same course-for widely differing reasons. Gardner Ackley, chairman of the White House Council of Economic Advisers, and William McChesney Martin, chairman of the Federal Reserve Board, renewed the call for a tax increase to fend off inflation...
...Zijl-stra of The Netherlands Bank was elected B.I.S. president to succeed his retiring fellow countryman, Marius Holtrop) as for the two preceding days of frank talk behind closed doors about monetary problems. "You save two weeks of travel in Europe by coming here," explained Federal Reserve Chairman William McChesney Martin, who led the U.S. contingent...