Word: sprinkel
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...economic expansion. Members of TIME's Board of Economists expect a simmering down of growth during the final months of 1977 and throughout '78. David Grove, IBM's chief economist, expects declining growth rates-to 4.7% in the third quarter and 4.1% in the fourth. Beryl Sprinkel, a monetarist and executive vice president of Chicago's Harris Trust & Savings Bank, expects about a 3.5% growth rate in the last part of 1977. For next year the majority of the Board anticipates similar modest growth, which certainly would not be great, but also...
...year's end will still be 6% or more. Robert Nathan, a Washington consultant, noting sharp rises in industrial commodity prices and the inflationary impact of escalator clauses in union contracts, believes that prices at year's end could be climbing at a pace of 7%. Beryl Sprinkel, vice president of Chicago's Harris Trust & Savings Bank, is worried that a rapid expansion in money supply -about 11% lately by one measure -could lead to sharp price boosts...
...from satisfied with Carter's energy proposals are the Republican members-Alan Greenspan, who was President Ford's chief economic adviser; Beryl Sprinkel, executive vice president of Chicago's Harris Trust & Savings Bank and Murray Weidenbaum of St. Louis' Washington University. Their main complaint: the program's failure to put enough emphasis on increasing energy supplies by eventually lifting all controls on oil and gas and letting the market determine prices. Says Sprinkel: "It's backward economics. We're not allocating enough resources for investment." In addition, Greenspan fears that the program will...
Conservatives Weidenbaum and Beryl Sprinkel, chief economist of Harris Trust & Savings Bank in Chicago, argue that any tax cut should be permanent. Such cuts, says Weidenbaum, would "serve as a useful restraint" on proponents of "vast new expenditure programs." At the same time, he says, permanent cuts would encourage consumers to spend more money over the long run because they would have more money to keep. Monetarist Sprinkel concurs, but questions what real good any tax cut will do. "We have a $1.8 trillion economy," he says. "If anybody thinks a $10 billion or $12 billion change in taxes will...
Bulging Coffers. Sprinkel nonetheless would go along with a hefty tax cut for business−if there is one−to spur investment. But Heller and David Grove, vice president of International Business Machines Corp., argue that business's coffers already are bulging and that executives will not spend more on factories and machinery unless consumer demand rises. Says Grove, who wants a stimulus of as much as $30 billion: "What business needs most is the prospect of higher sales volumes to encourage investment...