Word: sprinkel
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Dates: during 1980-1989
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...Then, at a breakfast meeting with reporters the next day, Stockman implicitly contradicted Regan by arguing that the Fed should keep the brakes on the money supply. As Regan continued to attack the Fed's tight money policy on a two-day speaking tour, Treasury Under Secretary Beryl Sprinkel tried to get his boss to soften the rhetoric. Regan, however, refused to include in his speeches the suggested changes dictated over the phone by Sprinkel's office. At week's end it became clearer why Regan seemed so sure of his footing. Presidential Counsellor Edwin Meese told...
After Regan's attack on Fed policies, the White House pressured the agencies involved to produce some agreed-upon "guidance" that all spokesmen could adhere to. A memo of understanding, signed by Sprinkel and Stockman's top economic aide, Lawrence Kudlow, among others, said that all concerned agreed on a steady slow growth of the money supply, which the Fed was moving to accomplish. The message ended: "Nothing which has been said in recent days indicates a retreat from that commitment." A White House spokesman as much as admitted that concern about economic disunity had been only temporarily...
...University of Texas and Joseph Pechman and Charles Schultze of the Brookings Institution.) Two of the board's distinguished alumni are currently high officials in the Reagan Administration: Murray Weidenbaum, chairman of the Council of Economic Advisers (the fifth board member to serve in that position), and Beryl Sprinkel, Under Secretary of the Treasury...
Administration officials are now trying lamely to find explanations for the Wall Street debacle. Under Secretary of the Treasury Beryl Sprinkel and others argue that interest rates will begin to fall as soon as the Federal Reserve, which controls the nation's money supply, convinces the public that it intends to stand firm with a tight-money policy and squeeze inflation out of the economy. Says a key Reagan policymaker as he points to the infamous light at the end of the tunnel: "If the Federal Reserve can stick with it for six months, then its credibility will...
...weakness is coming from what European bankers are calling the "Reagan euphoria." Just as the value of the dollar fell because world moneymen did not believe that Jimmy Carter was serious about battling inflation, it is now rising because the new Administration looks more determined. Said Beryl Sprinkel, the Under Secretary of the Treasury-designate for Monetary Affairs: "We're getting on top of this inflation problem, and the markets are beginning to believe...