Word: hellers
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...L.B.J. ranch from London last week came a telephone call for President Johnson. The caller was Walter Heller, 49, chairman of the President's Council of Economic Advisers, who was reporting in after a Paris meeting of the Organization for Economic Cooperation and Development. During their conversation, the President asked whether Heller would reconsider his decision to leave the Government. The answer was still...
Months ago, Heller had decided to return to the University of Minnesota's economics department, where he was when Hubert Humphrey brought him to Washington in 1960 to meet newly elected John Kennedy. Heller delayed his departure until after the election, but now he was determined...
...activities of these advisers are more or less coordinated through the President's Council of Economic Advisers, but they range far beyond the usual scope of the CEA. Walter Heller, author of the tax cut and the most influential chairman in the CEA's history, is expected to resign soon and return to the University of Minnesota, though the President is eager to keep him on. Heller's replacement could well be Michigan's Gardner Ackley, 49, a somewhat quieter but equally activist CEA member. Whoever heads the CEA, the band of outside economic advisers...
...probably rank above the rest on the influence chart. One is Joseph Pechman, 46, the short, greying economist at the Brookings Institution, who importantly shaped the form of the tax cut and now is lobbying for a reduction in excise taxes. Pechman went to the University of Wisconsin with Heller, landed his first Government job (in the Treasury) through Heller after World War II, now frequently discusses the economy with the CEA chief. Specializing at the moment in federal-state relations, Pechman this week will hand to the President a lengthy report that recommends methods for channeling a portion...
...warned the President that he was tampering with the free market in ways that "could seriously injure the economy," also suggested some tightening of credit to head off inflation. "Steve" Saulnier believed that it was far too early to measure the final results of the tax cut-but Heller told the press that the visitors had agreed that the cut has been a success so far. Later, Saulnier said: "I don't think any of us are being served very well by continually being told that everything is hunky-dory and that we're all on the same...