Word: sprinkel
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Dates: during 1980-1989
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Business groups contend that the increased labor costs from any hike jeopardize hundreds of thousands of jobs. Union leaders counter that such claims are exaggerated. Economists are of no help in resolving the dispute. Beryl Sprinkel, chairman of the Council of Economic Advisers, says a $4.65 base rate would eliminate 600,000 jobs, cost consumers $13 billion more a year and add $2 billion to the deficit. The Congressional Budget Office has projected that 500,000 jobs would be lost. But Economist F. Gerard Adams of the University of Pennsylvania argues that a higher minimum wage would cost no more...
...approaching the threshold at which it begins to spur wage and price increases. Says he: "I like an unemployment rate of 5.3%, but if it goes below 5%, then I would be concerned." Yet other economists think the work force can readily accommodate the scattered shortages. Says Beryl Sprinkel, chairman of the President's Council of Economic Advisers: "We have a flexible labor market. Individuals do move from areas of temporary surplus into areas of so-called shortage...
Proxmire also cited criticism of the Fed in the Economic Report of the - President issued two weeks ago, which was prepared under the direction of Beryl Sprinkel, chairman of the Council of Economic Advisers. The report contends that overly tight Fed policies resulting in a rise in interest rates last year were partly responsible for the October stock-market crash...
...decisive meeting occurred Tuesday after the market close. James Baker, by then back in his Treasury office after having cut short his trip to Europe, first called in Howard Baker, Greenspan and Sprinkel to coordinate what they would tell the President. Then, joined by Duberstein, they went upstairs in the White House to the brightly colored West Sitting Room, which the Reagans use as a living room. James Baker opened by telling Reagan that the world seemed to be looking for some movement on the President's part, and the quickest way he could display leadership was by reaching...
...President's opposition to any sort of tax boost. But he and other insiders were already monitoring the stock market apprehensively. The previous Friday, White House Chief of Staff Howard Baker had pulled together an informal group consisting of himself, the Treasury Secretary, Council of Economic Advisers Chairman Beryl Sprinkel, Federal Reserve Chairman Greenspan and White House Aide Kenneth Duberstein. They met with the President after the market had closed with a then record loss of 108.36 points (shortly to be vastly eclipsed). Their message: basic economic indicators were good, but the markets were very nervous...