Word: boards
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Dates: during 1960-1969
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...growing uncertainty over the economy. Last week's figures disclosed continuing November declines in industrial production, housing starts and workers' purchasing power, distressingly combined with consumer-price increases that were running at a 6% annual rate. Arthur Burns, who will become chairman of the Federal Reserve Board on Feb. 2, conceded to a Senate committee that the U.S. faces a "danger" of recession. He spoke cautiously of a relaxation of the board's credit squeeze-if Congress passes a noninflationary tax bill and President Nixon can keep the fiscal 1971 budget in balance. Despite those enormous hedges...
...Kemper Insurance Group outbid nine other companies for the policy to cover Indianapolis' 123 schools against fire, vandalism and other risks. The school board paid its $126,000 annual premium and had only one major claim-$101,000 for windstorm damage. Last week the board was searching for new coverage. Kemper announced that after the Indianapolis policy expires on March 1 it will not be renewed...
...administration has tried to dismiss Fantus' move as a publicity stunt. The administration's chief, D. K. Patton, a former Fantus vice president, suggests that Fantus thinks it can boost its business by persuading companies to relocate. Outside opinion tends to support Yaseen. The National Industrial Conference Board reports that the chiefs of some major companies are thinking of offering executives whom they try to lure to Manhattan a "New York cost-of-living differential...
...chance of either a recession or a continued boom "a long shot." By his handicapping, the Government stands a 50% chance of bringing the inflation rate down to about 4% without causing a politically unacceptable rise in unemployment. Still, Okun insists?as do the other members of TIME's Board of Economists?that it is high time the Federal Reserve eased its monetary brakes...
ECONOMICS is the perilous profession, whose leading practitioners put their forecasts on the record in hard numbers almost every year. Members of TIME's Board of Economists, who met this month with the editorial staff in Manhattan and supplied much of the material for the accompanying cover story, made the following first predictions...