Word: saulnier
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Dates: during 1970-1979
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...solved either problem. I am against wage and price controls, but we cannot let this situation go on forever. The economy has the people scared. If we do not begin to see evidence of a decrease in inflation soon, the Government will have to take drastic action." RAYMOND SAULNIER, former chairman of the CEA (1956-61). "I'm afraid that wage inflation has gone so far now that it requires much more direct intervention by Government. I'm not talking about freezes or mandatory controls. But I am talking about a much more direct, determined and explicit Government...
...about the possibility of more inflation. The budget deficit for fiscal 1970, and probably fiscal 1971, will be bigger than the President predicted. Reasons: a shortfall in Government revenues because of the decline in business profits, and the tendency of Congress to legislate more spending than Nixon wants. Raymond Saulnier, former head of the Council of Economic Advisers, fears that an "explosion" of labor costs will set off another round of inflation. First-year pay and benefit gains in major union contracts signed during this year's opening six months averaged a staggering...
...that reaches his desk? His record in fighting for free trade is not impressive. On the other hand, he must realize that a great leap backward to the protectionism of the early 1930s would be disastrous. Two former chairmen of the Council of Economic Advisers, Walter Heller and Raymond Saulnier, last week warned that such regression would be highly inflationary. Competition from inexpensive imports is one of the few forces that have moderated U.S. prices...
This gigantic expansion has had significant and not always salutary economic effects. Economist Raymond J. Saulnier believes that it was a major reason why the Federal Reserve's tight-money policy took so long to slow the pace of business. Commercial paper enabled many companies to escape the effects of the squeeze on bank credit, and the phenomenon went largely unremarked by economists because commercial paper is not counted as part of the nation's money supply...