Word: milton
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...reached a record high of 1242.19. Said New York Investment Banker Felix Rohatyn: "Volcker's monetary policy has been criticized by almost everybody and is therefore probably right." Reaction on Capitol Hill and in international banking circles was also very favorable. Only a few demurred. Complained Conservative Monetarist Milton Friedman: "President Reagan has decided to take the course of least political resistance...
...picnics and in the bar of the Jerome Hotel, the conference has become an institution, a sort of Academy. Students and young practitioners come with their cameras and tape recorders, spouses and babies; besides sitting at the feet of such design luminaries as Saul Bass, Ivan Chermayeff, Niels Diffrient, Milton Glaser and George Nelson, they turn the Academy into a happening, flying kites, making music of all kinds and building weird experimental structures. At an altitude of 8,000 ft., some of the proceedings tend to soar into the wild blue yonder...
...down inflation, strengthened the dollar and set the stage for the euphoric bull market in stocks that began last August. Nearly 80% of 702 executives polled by the investment firm A.G. Becker Paribas gave their vote of confidence to Volcker, with Alan Greenspan a distant second at 5.8%. Monetarist Milton Friedman got only 5.5%, Treasury Under Secretary Sprinkel 2.5%, and Fed Vice Chairman Martin less than 1%. More than half the executives fear a return to double-digit inflation if Volcker is replaced. So bullish is Wall Street on Volcker that Charles M. Lewis, vice president of Shearson/American Express, predicts...
Like any other person in public life, Volcker has his detractors. He has been faulted for going along with Carter's disastrous fling with credit controls in early 1980 and for sometimes permitting the money supply to swing wildly. Asserts Nobel Laureate Milton Friedman, who maintains that steady and predictable money growth is the key to economic health: "There has been more volatility in the money supply in the past three years than in any previous three-year period...
...DIED. Milton R. Young, 85, quiet-spoken Republican Senator from North Dakota (1945-81), who was dubbed "Mr. Wheat" for his farm-bloc leadership and his advocacy of constituents' agricultural interests and who served the greatest number of consecutive years for a Republican Senator; of cancer; in Sun City, Ariz...