Word: ohta
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Dates: during 1980-1989
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Verbal reaction followed the same down- and upbeat course. Nihon Keizai Shimbun, Tokyo's respected business daily, headlined an editorial VOLCKER'S RESIGNATION IS VERY REGRETTABLE. But Takeshi Ohta, deputy governor of Japan's central bank, said with evident satisfaction, "Mr. Greenspan is the best successor that the President could have chosen." British Chancellor of the Exchequer Nigel Lawson called Greenspan's appointment an "excellent choice." In the U.S., where Greenspan is much better known, most economic thinkers and money managers hailed the Fed newcomer -- once they had regretted Volcker's departure. Said Frederick Joseph, chief executive officer...
...Chicago Greenspan had remarked that "over the long run" the value of the battered dollar would go "significantly lower." At last week's press conference announcing his appointment, however, he noted cautiously that there was "evidence" that the dollar's fall had bottomed out. Observed Japanese Central Banker Ohta: "Mr. Greenspan made his remark about ((the falling dollar)) when he was an economist, not when he was chairman-designate. So we do not have any concern about it." In his new vein of bankerly circumspection, Greenspan also declared that the "economy, at the moment, looks reasonably strong and hopefully will...