Word: sprinkel
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...board members can see no quick way out of the economic morass. As Washington rivets its attention on impeachment proceedings, says Robert Nathan, "the impossibility of getting anything out of the Executive Branch of the Government at this time means we are just going to drift." Banker Beryl Sprinkel urges the Government to "keep our [fiscal and monetary] policy reasonably tight, settle for 5% or 5.5% unemployment, and then the rate of inflation could drift down"-over the next three to five years. Okun sees only one quick way of stopping inflation: "Panic-a real shake-out in commodity markets...
...Administration economists thought that the U.S. could and should hold price increases over the long run to an average of a mere 2% a year. Some critics believed 3% to be a more realistic figure. But at a recent meeting of TIME'S Board of Economists, Banker Beryl Sprinkel reluctantly counseled acceptance of "a rather perpetual, sizable inflation on the order of 5%" yearly. In a recent poll taken among some members of the American Economic Association, no fewer than 43% forecast that inflation will average 5% annually for the rest of the 20th century...
...money to be siphoned out of the economy (income tax collections grow automatically as pay and profits swell). Shortages of credit and climbing interest rates, in Stein's view, will cool the enthusiasm of businessmen wanting to borrow for further expansion. Perhaps-but meanwhile worries mount. Economist Beryl Sprinkel, an Administration supporter, spoke for many politicians, businessmen and consumers last week when he said, "This is the unhappiest boom I have ever lived through...
...Resources Inc. and a member of TIME's Board of Economists, fears that the Fed some time this year may reduce the rate of money increase to 3% or 4%. If that happens, he warns, by 1974 "the Fed will kill the boom." On the other hand, Beryl Sprinkel believes that the rate of money growth this year "will be in the 5% range, which will promote a lesser rate of rise in the gross national product in the latter part of the year than in the first part." Interest rates will probably drift up somewhat, but there...
...Otto Eckstein Alan Greenspan David Grove Walter Heller Robert Nathan Joesph Pachman Beryl Sprinkel G.N.P. $1,262 $1,266 $1,266 $1,267 $1,263 $1,267 $1,267 $1,268 (in billions...