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Liberal economists argue that fears of a too rapid recovery are overblown. Says Heller: "We have lots of headroom for expansion and no prospect of revived inflation for quite a long stretch ahead." Heller points out that wage costs, a central element of inflation, are still declining. Harvard Economist Otto Eckstein challenges the common assumption that the money supply is expanding too fast. He notes that M2 and M3, two broader measures of money that include various types of savings accounts, are growing within their target ranges. The narrower M1 figures, he adds, may have been distorted by the swift...
...vanguard of this organization is the center's Epidemic Intelligence Service (EIS), which sends out its corps of 120 young, bright and determined investigators around the U.S. and the world. "We see the CDC people as our sort of big brother," says Nevada Health Official Dr. Otto Ravenholt...
...markets. Worldwide confidence in the Government's ability to manage the American economy had seldom been lower. Today inflation has slowed to less than 4%, and the dollar has become the world's strongest currency. Many experts attribute that remarkable turnaround largely to Volcker. Says Harvard Economist Otto Eckstein: "Volcker will go down as a giant in history." Concurs Henry Kaufman, chief economist at Salomon Brothers: "Volcker has demonstrated an extraordinary capacity as a defender of the integrity of our currency...
...terrifying place even in the '50s. Most of them were quartered in a New Weimar set among palm trees. In Strangers in Paradise, John Russell Taylor, film critic of the Times of London, tells ironic tales out of court about the Hollywood settlers. Actors like Conrad Veidt and Otto Preminger, fleeing from Hitler, were hired to impersonate Nazis in war movies. Ernst Lubitsch, eager to propagandize against the Third Reich, directed a delicate, tentative farce, To Be or Not to Be, starring Jack Benny as a Polish ham actor. In the film a German general appraises Benny: "What...
...that workers spent in manufacturing jobs rose from 39.6 a week in March to 40.1 last month. With factories humming at a faster pace, new orders continued to rise. Led by a big jump in commercial aircraft contracts, April capital goods orders were up a surprising 9.6%. Board Member Otto Eckstein, chairman of the Massachusetts-based Data Resources economic forecasting firm, was unable to attend last week's meeting but said in an interview afterward: "It now looks as if plant and equipment spending is already in an upswing, and this is happening sooner than many had previously thought...