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Word: volckerism (lookup in dictionary) (lookup stats)
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...Walter Heller believes Greenspan has the perfect temperament for his new post. Says Heller: "He doesn't show his emotions. The Fed chairman has to have the capacity for forthright evasion and controlled obfuscation, and Alan is very good at that. ((Former Chairman)) Arthur Burns puffed on a pipe. Volcker puffed on cigars. Alan does not smoke, but when required, he can set up a nice smoke screen with words...

Author: /time Magazine | Title: A Conservative Who Can Compromise | 6/15/1987 | See Source »

President Reagan's choice of Alan Greenspan to replace Paul Volcker as chairman of the Federal Reserve Board inspired immediate interest among TIME's journalists. "It took only a short time to decide that Greenspan should be on the cover," says Economy & Business Senior Editor Charles Alexander. "He is one of the most analytical and perceptive economists around, a creative thinker brimming over with ideas. Once we'd chosen him, we immediately sent messages to both our domestic and foreign news bureaus asking that they start analyzing the move...

Author: /time Magazine | Title: A Letter From the Publisher: Jun. 15, 1987 | 6/15/1987 | See Source »

Just before leaving Washington for this week's Venice summit for leaders of the major industrial nations, the President said he had accepted with "great reluctance and regret" the resignation of Federal Reserve Chairman Paul Volcker, 59, effective in August at the end of his second four-year term. His successor, and thus the new Mr. Dollar, will be Alan Greenspan, 61, a highly regarded private economist (and longtime member of TIME's Board of Economists) who served as chairman of the Council of Economic Advisers during the Ford Administration. Said Greenspan last week, after revealing that it took...

Author: /time Magazine | Title: Alan Greenspan: The New Mr. Dollar | 6/15/1987 | See Source »

Someone liable to be just as irked at Citicorp's move is Fed Chairman Volcker. Some stories have it that he called Reed personally to complain about the write-off. Why? If banks rush to follow Citicorp's lead, the industry might be so weakened by losses that the Fed would eventually feel obliged to help out by putting downward pressure on interest rates. But that would run counter to the Fed's efforts to buoy up the weak U.S. dollar. Says Timothy Scala, money-market manager for Buffalo-based Manufacturers and Traders Trust: "This demonstrates just how grave...

Author: /time Magazine | Title: Citicorp Breaks Ranks | 6/1/1987 | See Source »

...system. At issue is whether corporate giants like General Motors, Sears and Honda should be allowed to own non-bank banks, which would destroy the historic separation between banking and commerce in this country. The Reagan Administration supports the breaking down of these walls. Federal Reserve Board Chairman Paul Volcker, among others, does not. The matter, now before Congress, makes the turf wars between commercial banks and investment banks look like a molehill...

Author: /time Magazine | Title: Letters: Separate Accounts | 6/1/1987 | See Source »

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