Word: mccrackens
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Economic Adviser McCracken has begun to talk privately of organizing a North American common market in energy. That fascinating idea frightens many Canadian politicians, who fear a Yankee grab for their nation's resources. The problem is at least partly one of semantics; the same politicians proclaim eagerness for unrestricted access to continent-wide fuel markets. A U.S. offer of long-term contracts to buy more Canadian oil, put forth as a straightforward business proposition, might meet a ready reception...
...finds a way to stop exorbitant pay increases in construction, the pattern will continue to spread into many other industries and to undermine the nation's fight against inflation. The problem may even help lead the Nixon Administration to a tougher incomes policy. Last week Paul McCracken, chairman of the Council of Economic Advisers, told a congressional committee that he "would certainly not" rule out the possibility that the Administration might establish a broad wage-price board this year...
Buying Time. The whole operation was immeasurably helped by Carli's high personal standing among international bankers. An athletic, ascetic-looking man, he holds a position comparable to the combined posts of Federal Reserve Chairman Arthur Burns and Chief Presidential Economist Paul McCracken. Carli sits in on Cabinet financial discussions and closely controls the banking system, a job made easier because Italy's four largest banks and two largest investment firms are state-owned. Over the past decade, he has survived twelve governments, and has been a key figure in working out the two-tier market for gold...
...decide on which of two policies to emphasize. Should he aim for a modest rate of economic recovery, risking a continuation of high unemployment? Or should he strive for a faster snapback, risking more inflation later? Every sign now indicates that the President, prodded by Chief Economist Paul McCracken and Budget Boss George Shultz, has made a decision to go for speedy, job-creating growth. It remains to be seen whether John Connally, Nixon's surprise choice for Secretary of the Treasury, will alter the strategy. Though he has Texas populist roots, Connally is considered to be an economic...
...economist in the Office of Management and Budget, known for his doubts about the Administration's efforts to control inflation. There is evidence that the President himself has now grown more concerned about the economic future. Last week he met with Kennedy, Council of Economic Advisers Chairman Paul McCracken, Commerce Secretary Maurice Stans and Chairman Arthur Burns of the Federal Reserve Board...