Word: mcchesney
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...gossips had been busy since January. At first the rumor was that William McChesney Martin, 60, wanted to retire when his current four-year term as Chairman of the Federal Reserve Board expires March 31. Shortly after that was denied, word got around that President Johnson did not intend to reappoint Martin. Last week a Pebble Beach, Calif., bankers' conference hummed with talk that the President had finally made up his mind. He had written Martin, so the story went, asking him to serve a fifth term as chairman...
Next day, from the same witness chair, Federal Reserve Chairman William McChesney Martin jabbed back. "The markets don't wait for kings, Presidents, Secretaries of the Treasury, chairmen of the Council of Economic Advisers-or even the chairman of the Federal Reserve Board," said he. As for Fowler's imputation that the board failed to mesh its policies with those of the White House, Martin disclosed that he had tried from September 1965 on -three months before the board finally acted to tighten money-to persuade the Administration to go along. After that, according to secret minutes also...
...shut off the Federal Reserve's discount window as a source of money for any banker who hoped to increase an already high volume of commercial loans. "Credit conditions have changed," said last week's notice from the seven-man board of governors headed by William McChesney Martin...
...this, a tax hike was urged privately but none too effectively by Gardner Ackley, chairman of the President's Council of Economic Advisers, and publicly by such former CEA chairmen as Walter Heller, Arthur Burns and Raymond Saulnier, as well as the Federal Reserve's Chairman William McChesney Martin. Johnson rejected the advice. Administration insiders say that the President took soundings on Capitol Hill and decided that he could not persuade Congress to pass a tax increase in an election year. House Ways and Means Chairman Wilbur Mills and Senate Finance Chairman Russell Long opposed a tax rise...
...question with newsmen at the L.B.J. Ranch. "We won't fire in the dark or jump in the dark," he said then. The day after his operations, members of Johnson's economic consortium-Treasury's Fowler, Budget's Schultze, Federal Reserve Board Chairman William McChesney Martin and C.E.A. Member Arthur Okun-spent a lunchtime hour at his bedside, and it was clear that nobody had jumped in the interim...