Word: feldstein
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...into giving a bipartisan blessing to gargantuan deficits, or set them up as scapegoats, or both. As a kind of grace note to the babble, one of the President's top economic advisers, Treasury Secretary Donald Regan, derided the analysis of another, Council of Economic Advisers Chairman Martin Feldstein, as ivory-tower dreaming. Said Regan, once chief of the giant securities firm Merrill Lynch, about the CEA report prepared by Feldstein, who is a Harvard professor on leave: "I have 35 years of experience in the market. The CEA has none . . . Experience in the marketplace is a lot more...
...away." So replied Treasury Secretary Donald Regan to Senators who pressed him to say what he thought of a 343-page report on the economic outlook. Prepared by Democrats? No, by his supposed colleague in the high command of the Reagan Administration, Council of Economic Advisers Chairman Martin Feldstein. In case anyone missed his meaning, Regan offered the particulars of his contempt: "I disagree with Feldstein's assessment of the dollar, his views on the deficits and interest rates, his rhetoric about the future and his assessment of the budget...
...Feldstein replied with a quip: "I suppose it was just a throwaway line." More seriously, he professed to find the Treasury Secretary's attack "quite amazing. I can't understand it." In fact, the two have long been at odds, though their differences have usually been expressed by a backstage elbow in the ribs rather than a public fist in the eye. Feldstein takes a far gloomier view of huge federal deficits than Regan does, and last week he annoyed the White House by saying as much in discussing forthcoming budget talks with Democrats. Said Feldstein, putting...
...Eckstein's recommendations are not altogether new," Carliner said, adding, "ICEA Chairman and Professor of Economics Martin S.I. Feldstein'61 has been saying the same thing about the budget deficit and the value of the dollar...
...despite recent indications of Presidential disfavor of Feldstein, Carliner remarked. "His ideas seem to be winning...