Word: millers
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Dates: during 1970-1979
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...This is the first time I've been able to see half the freshman class at once," Leslie Miller '81 said yesterday...
Many associates are frankly at a loss where to place Miller. At the Boston Federal Reserve Bank, where Miller is a director, staff members last week held a meeting to brainstorm what he might do at the Fed. Says one who attended: "None of us was able to categorize Miller. Some thought he would encourage investment spending and support tax incentives to encourage productivity, but we are not sure how aggressive he will...
Perhaps most of all, Miller is simply a manager, interested in results rather than doctrine. He has said that it is a mistake to focus only on management of total supply and demand in the economy; policymakers also need to develop programs for specific trouble spots. Though Miller was quickly criticized by Senate Banking Chairman William Proxmire for lacking sufficient banking experience to run the nation's money supply, those who know Miller say the charges are foolish. Says New York Investment Banker Felix Rohatyn, who knows Miller well: "I think that he knows more about finance than most...
...subject, Miller's views are not only clear but almost fanatic: he is an aggressive nonsmoker. He has peppered Textron's office with NO SMOKING signs and banned tobacco at management meetings and aboard the company's aircraft. After eight years of Arthur Burns' perpetually puffing pipe, the change may come as something of a shock to Federal Reserve staffers accustomed to lighting up in front of the boss. Says a Providence banker who is close to Miller: "When he gets down to Washington, he will probably fumigate the building...
...McChesney Martin in 1970 as head of the Federal Reserve Board, he had a tough act to follow. After 19 years in the job. Martin had made his name synonymous with sound money management. When Burns himself steps down at the end of this month, his successor, G. William Miller, will find Burns' show quite as difficult to top. As chairman of the Reserve, Arthur Burns was final arbiter of the nation's money supply through eight of the most tumultuous years in economic history-years marred alternately, or sometimes simultaneously, by double-digit inflation, double-digit interest...