Word: saulniers
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...economy. If the Board instead concludes that lower rates signify that the nation's money supply should be tightened even more, the resulting squeeze on banks could have serious repercussions. Bankers are not alone in believing that, at the worst, additional tightening could provoke a recession. Raymond J. Saulnier, Eisenhower's last chairman of the Council of Economic Advisers, warned last month that "we are as close as it is safe to get to the outer limits of monetary and credit severity...
Even so, Walter Heller and other eminent economists maintain that inflation will continue to plague the U.S. for years to come. The task for 1969 is to gain stability without losing much of the very real progress of the past eight years. As former Eisenhower Economist Raymond J. Saulnier notes: "A stabilization program always risks recession...
Died. Robert Morane, 82, French aviation pioneer, who helped build Air France, one of the world's largest airlines; in Paris. In 1911, eight years after the Wright brothers began the air age, Morane started Morane-Saulnier, the company that produced some of the first bombers used in World War I. Des Messageries Aériennes, an air-transport company also founded by Morane, grew into Air Union, one of five large aviation firms that merged to form Air France...
...progression toward undermining the currency," he told the Economic Club of Detroit. "The dollar is stronger than gold, but like it or not, the world no longer has the confidence in the dollar that it once had. People doubt that we can handle our own affairs." Economist Raymond Saulnier, who was chairman of the Council of Economic Advisers in the Eisenhower Administration, took sharp aim at the Johnson Administration: "When you live in a managed economy," he said, "you run the risk of mismanagement...
...tighten up soon, but if it does many financial men fear the Treasury will be hard put to borrow $10.6 billion before year's end to pay the nation's soaring bills. "I think the Fed has been had," said former Chief White House Economist Raymond Saulnier last week. "We're on the brink of a financial crisis...