Word: millers
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Dates: during 1970-1979
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Long before he began work on this week's cover story on G. William Miller, George Taber, our Washington economic correspondent, had collected some intriguing gossip and opinion about the unbankerly new Federal Reserve Board chief. Most of it squared with the impression that Taber had got during his first meeting with Miller, just after he took office in March. "It was disarming," he recalls. "He was running around the solemn corridors of the Fed with his coat off, tossing out ideas on fighting inflation and otherwise behaving unlike the typical wary central banker...
Testifying before the Congress's Joint Economic Committee, Federal Reserve Chairman G. William Miller said that policymakers would be "walking through a very narrow valley in the next few months" and would need "tremendous skill" to avoid either another surge in prices or a quick slump back into recession, or perhaps both. Although Miller opposed his colleagues at the Fed on the need for another discount rate increase, he is persuaded that inflation is a more immediate peril than recession; he recommended that Congress postpone the 25?-an-hour increase in the minimum wage (now $2.65) that...
Treasury Secretary W. Michael Blumenthal quickly seconded the Fed chairman's appeal. By Miller's calculations, the increase could boost inflation by one-half of 1 % next year, as the higher wage costs in such businesses as restaurants, motels and supermarkets ripple through the economy...
...Miller, who expects that inflation will average more than 7% this year, insists that prices must be brought under control if a downturn is to be avoided...
After the Bonnie and Clyde hysteria died down, Beatty acted only occasionally. His single memorable performance was in Robert Altman's McCabe and Mrs. Miller (1971); it was also his first appearance opposite Julie Christie, who had been the most important woman in his life since...