Word: milde
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...only member of the Board of Economists to predict a recession next year is Beryl Sprinkel, executive vice president of Chicago's Harris Bank, and he foresees a mild and brief one. His forecast: real G.N.P. will drop 2.4% in the third quarter next year and 3.2% in the fourth quarter, but start back up in early 1980. Alan Greenspan, formerly President Ford's chief economic adviser, also sees a recession?but not until 1980, and then so gentle that it will just about meet the technical definition: two successive quarters of declines in real G.N.P...
...cutting income taxes but to reducing the Social Security tax increase coming next year. Treasury Secretary Blumenthal would give more of the cuts to people with taxable incomes of $20,000 to $50,000 a year. But the form of cuts for individuals stirred only mild controversy...
...earlier Indiana outbreak to an air conditioner with a bacteria-contaminated water supply. City inspectors swarmed through the district, taking water samples from air-conditioning systems, and draining and sterilizing rooftop tanks where the water was stored. Below, sanitationmen hosed down the streets and added a dash of mild pine oil to sweeten the smell...
...Secretary Michael Blumenthal and Federal Reserve Board Chairman William Miller want him to start a tough program immediately. Vice President Walter Mondale and some other advisers also favor a strong program-but after the November congressional elections. A third group, including Domestic Policy Director Stuart Eizenstat, wants a relatively mild program, because a hard one would hurt Carter with labor and minority groups...
...compromises: the Postal Service abandoned its effort to abolish a contract's ban on layoffs; the unions accepted relatively moderate pay and cost-of-living increases of 19.5% stretched over three years. It was the only major union contract this year to be settled on such mild terms, and Administration officials hailed it as a victory over inflation...