Word: sprinkel
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...money-supply increase averaging 3% to 4% at an annual rate over the next six months. Other members disagree only over whether the Reserve Board should reach that target gradually, as Heller and Pechman prefer, or immediately, to make up for having been too stringent too long, as Sprinkel and Okun urge...
...Sprinkel, senior vice president of Chicago's Harris Trust and Savings Bank. Henry Kaufman, partner in the Manhattan investment firm of Salomon Bros, and Hutzler, expects "a mild but sustained recession." He foresees a 15% to 20% drop in corporate profits...
...SPRINKEL: There has not been, nor do I think there should be any attempt to interfere directly in individual price or wage decisions. Such efforts do not work. They have not worked in this country, and they have not worked abroad...
...SPRINKEL: They did for a while. I think everyone agrees that in the face of overly expansive economic policies, no set of guideposts will work very long...
...SPRINKEL: Arm twisting can prevent certain prices from going up, or even force them down. The Government has lots of ways of forcing businessmen to act as it prefers. But does that mean that it really contributes to controlling inflation? Is there any reason to believe that less total spending will occur as a result of reducing any particular price in the economy? My answer is no. If we spend less in one area, we are likely to spend more in another area...