Word: otto
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Dates: during 1970-1979
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...critics now think that interest rates are too low. Otto Eckstein, a member of TIME's Board of Economists, fears that if rates do not rise gently this year, they will go up so abruptly in 1977, when loan demand should finally revive, as to jolt the economy. Burns does now seem to be trying to nudge interest rates up a bit; among other things, he intends to dole out money more slowly. His new target is money-supply growth of 4½% to 7% a year, down from the 5% to 7½% he had been aiming...
...board's average prediction was that real gross national product-total output of goods and services, discounted for inflation -would rise 6.2% in 1976. Now the range of guesses is from 6.3% (Beryl Sprinkel, executive vice president of Chicago's Harris Trust & Savings Bank) to 6.9% (Otto Eckstein, head of Data Resources Inc., an economic consulting firm...
...Illinois; and Jayne Ann Carr, 30, an Illinois assistant attorney general. Before he resigned last July after four years as U.S. Attorney for northern Illinois, Thompson had successfully prosecuted several big wheels-and many smaller ones-in Chicago Mayor Richard Daley's Democratic machine, plus former Governor Otto Kerner (see below...
...Died. Otto Kerner, 67, two-term former Democratic Governor of Illinois (1961-68) and federal judge, who was considered to be a paragon of political integrity until 1973, when he was convicted of conspiracy, mail fraud, income-tax evasion and lying to a grand jury; in Chicago. Kerner was appointed to the U.S. Court of Appeals by President Johnson in 1968. He had gained national attention that year as chairman of the President's National Advisory Commission on Civil Disorders, which concluded that the U.S. was becoming an increasingly dichotomized society-one part prospering white, the other poor...
This early warning system, made possible by computer analysis of a va riety of indicators, will take the temperature of every economic advance. DRl President Otto Eckstein, a Harvard professor and member of TIME'S Board of Economists, rates the temperature of the current recovery to be near normal, al though he notes that optimistic business men are scrambling to stock their shelves and supply bottlenecks are be ginning to show up. But the question remains whether the boom index will real ly be able to warn of a dangerously rising temperature before it is already too high...