Word: mcchesney
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Dates: during 1960-1969
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...will thus hinge more than ever on the size of Viet Nam spending, and President Johnson has not told even his highest policymakers how much that may be. Left in the dark, his aides are chagrined that their decisions must involve so much guesswork. Says Federal Reserve Chairman William McChesney Martin: "If the defense supplemental is going to be, as many think, between $7 billion and $15 billion, we should take the calculated risk of a one-year tax increase rather than risk another step on the accelerator. It's easier to remove the tax increase than to untangle...
...than 500 new banks, permitted 510 banking mergers, and empowered commercial banks for the first time to get into revenue-bond underwriting, the direct-leasing business and insurance selling. Along the way, he irritated two U.S. Presidents and obstreperously tangled with such Washington Pooh-Bahs as Robert Kennedy, William McChesney Martin, Nicholas Katzenbach, Senator John McClellan and Congressman Wright Patman-as well as leaders of the Securities and Exchange Commission, the Federal Deposit Insurance Corporation and the Independent Bankers Association...
Interest. With that old tight-money man, Federal Reserve Board Chairman William McChesney Martin watching approvingly, President Johnson signed a bill allowing the three bank regulatory agencies (the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Federal Home Loan Bank
...risk a tax increase, unless a major expansion in Viet Nam spending leaves him no other choice. Instead, the President has fought inflation by using the old jawbone technique and several new devices, including the speedup in withholding taxes. Most important, he has depended on Chairman William McChesney Martin and the Federal Reserve Board to cool off the economy by tightening credit and raising interest rates...
Washington's Dilemma. The advocates of a tax rise last week picked up such prominent recruits as Walter Heller, former chairman of the President's Council of Economic Advisers; Pierre-Paul Schweitzer, chief of the International Monetary Fund; and most important, William McChesney Martin...