Word: ratings
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Dates: during 1960-1969
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...ouster is vague about whether the President has to show malfeasance to dismiss an appointee in midterm. Moreover, Morgenthau just might launch an embarrassing campaign to remove U.S. attorneyships from the patronage rolls. He is known to believe that the jobs should not be political plums, though they now rate among the juiciest. Morgenthau's district, for example, has 70 or so assistant attorneys, who are appointed by the Attorney General...
...consumer caution is due not only to inflation but also to growing uncertainty over the economy. Last week's figures disclosed continuing November declines in industrial production, housing starts and workers' purchasing power, distressingly combined with consumer-price increases that were running at a 6% annual rate. Arthur Burns, who will become chairman of the Federal Reserve Board on Feb. 2, conceded to a Senate committee that the U.S. faces a "danger" of recession. He spoke cautiously of a relaxation of the board's credit squeeze-if Congress passes a noninflationary tax bill and President Nixon...
...York City, says Fantus President Leonard Yaseen, is just no place to work. Yaseen gives it a low rating for reasons as varied as crime, air pollution, strikes, employees' attitudes toward work and operating costs. He cites high and rising city income and occupancy taxes, as well as office rents of up to $15 a square foot in midtown Manhattan v. $7 in the suburbs. Clerical workers commonly put in only 35 hours a week in Manhattan v. 40 in some nearby towns, and their turnover rate averages 34% a year, against 15% in Stamford, Conn. Worst...
Still, economists generally agree that the economy now shows plenty of signs of losing momentum. As interest rates climbed to the highest peak in more than a century, housing starts fell sharply and the bond markets approached collapse. Banks, the principal buyers of municipal bonds, were short of funds and shying away from 20-year and 30-year securities with a fixed rate of return. Industrial production has slipped, and personal income is now rising at a rate of only 1.3% a year...
...prosperity. Many experts find the present outlook no cause for alarm. Arthur Okun, the former head of the Council of Economic Advisers, calls the chance of either a recession or a continued boom "a long shot." By his handicapping, the Government stands a 50% chance of bringing the inflation rate down to about 4% without causing a politically unacceptable rise in unemployment. Still, Okun insists?as do the other members of TIME's Board of Economists?that it is high time the Federal Reserve eased its monetary brakes...