Word: wescott
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...Brian Wescott '84 recalls listening to his Shakespeare readings on vinyl LPs to decrease study time. "Because Shakespearean actors enunciate so clearly, I could play the records at 45 rpm and get through them even faster," he said...
Along the lines of including low-income peoplein the debate, Pamela H. Wescott directs groupdiscussions on the implications of welfare reform...
...Many low-income people had questions onwelfare reform but hesitated about askingauthority figures any questions," Wescott says...
Bill Clinton has two more years before Wescott's rule kicks in. Some recent signs suggest that the sputtering recovery might just be starting to hum. Inflation is down to a barely visible 2.5%, and low interest rates are going lower. Last week Morgan Guaranty and Harris Trust and Savings Bank dropped their prime lending rate half a percentage point, to 5.5%. Under Clinton, unemployment has also fallen, from 7% to 6.7%, with the economy generating an average of 152,000 new jobs each month -- roughly twice 1992's pace. Stocks are up to record heights. Investment in plant...
...what about Wescott's yardstick? Despite the upbeat statistics, real disposable income inched ahead barely 2% over the past year. The ample supply of labor and efforts by companies to trim costs have held down wage and salary increases. "The United States is finally entering a period of sustained, moderate growth fueled by low interest rates," notes Laura D'Andrea Tyson, Clinton's chief economic adviser (and Wescott's new boss). "But we would still like to see higher employment, the creation of more permanent jobs and stronger American exports." Tyson is forecasting modest 3% growth in the inflation-adjusted...