Word: roosa
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...FOREIGN AID: U.S. military and foreign aid added some $3 billion to the payments deficit in 1962, and, says Treasury Under Secretary Robert Roosa, "the blunt fact is that these claims on our balance of payments will continue...
Some European and U.S. bankers fear that the endless lending and relending of Eurodollar balances has already led to a dangerous pyramiding of credit. Fortnight ago, U.S. Under Secretary of the Treasury Robert Roosa urged Congress to try and lure the wandering dollars home by eliminating U.S. interest ceilings on deposits from foreign central banks...
...Economists frequently deplore it, businessmen point to it with alarm, and the Administration itself has put some of its best minds to work combating it. Thanks to all the fuss, the balance-of-payments problem may no longer be such a worry. Last week Treasury Under Secretary Robert V. Roosa told the House Banking and Currency Committee that the U.S.'s payments deficit in the second quarter of 1962 was very much smaller than in the first quarter, and that the deficit for the year is shaping up at between $1 billion and $1.5 billion, a vast improvement over...
...policymakers-from "conservative" Federal Reserve Board Chairman William McChesney Martin Jr. to "liberal" Chief Presidential Economist Walter Heller-that the nation can have prosperity as well as stable prices. If so, that would contradict the inflationary pattern of previous postwar recoveries (see chart). But, as Treasury Under Secretary Robert Roosa says, "this recovery period is different from all others...
...ROBERT V. ROOSA, 43, Under Secretary for Monetary Affairs. The selection of bow-tied, scholarly Banker Roosa (pronounced Roza) to be Treasury's No. 3 man was audibly cheered by the U.S. financial community. A former teacher at both Harvard and M.I.T., Roosa was for four years research director for the Federal Reserve Bank in New York, earned a reputation in his trade as "the best central banker in the world." He has a good teacher's ability to talk lucidly on complex subjects, makes a brilliant congressional witness. Roosa has been the man behind Dillon...