Word: hellers
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...will enjoy much more freedom of maneuver in foreign and domestic economic policy. For one thing, the better balance relieves the U.S. of much political pressure from the French, who have brandished their large hoard of dollars as a weapon and, says Chief Economic Adviser Walter Heller, often made U.S. officialdom feel "like mendicants"; last year the French drained off $500 million worth of U.S. gold and threatened to convert even more dollars. No one can be certain if or when the U.S. will achieve a surplus-partly because foreign nations will take steps of their own if they begin...
...gains in industrial production, personal income, auto sales and housing, many businessmen and economists were no longer taking seriously the old textbook notion that a modern economy can scarcely expect three consecutive years of record auto production, or four straight years of plump times. Said Chief Presidential Economist Walter Heller: "The expansion should continue well into...
...rare glimmers of hope for solving the nation's most rankling economic problem: unemployment. Though nonfarm employment usually drops by as much as 350,000 in February, it actually rose by 80,000 last month, to 56.9 million Americans at work in shops, offices and factories. Walter Heller expects that the business expansion will reduce the rate of unemployment from 5.4% to 5% or below by year's end. That would still be short of the Administration's goal of 4% , and the nation would still have to work at finding 3,000,000 jobs a year...
...purchasing power, a big federal deficit and a continuing policy of easy money-could bring on inflation and end the U.S.'s six-year period of relative price stability. With such a prospect in mind, President Johnson in his speech this week to the Auto Workers, and Heller in a talk to the Economic Club of Detroit, will plead for restraint all around on prices and wages...
Treasury Secretary Douglas Dillon, Presidential Economist Walter Heller and M.I.T. Economist Paul Samuelson lately have taken up the argument that Martin and his colleagues unwisely tightened money before the last recession. Attacking the system's penchant for secrecy, such Democrats as Wisconsin Senator William Proxmire complain that trying to find out why and how the Federal Reserve makes its decisions is like "trying to paste a custard pie on a wall." To make the Federal Reserve more dependent upon the President and upon Congress' easy-money advocates, Patman is sponsoring bills that would: >End its authority...