Word: weidenbaum
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...money supply, a key item on Reagan's economic agenda. He crossed the street from the White House to the Treasury Building to meet Fed Chairman Paul Volcker, a Carter appointee whose term does not expire until August 1983. Also in attendance were Treasury Secretary Donald Regan, Weidenbaum and top White House aides. Reagan mntioned that he had recently read "a prediction that the price of gold was going to nosedive." Replied Volcker: "I would love to see that. It's got to. It's been under a lot of pressure." Then they settled...
...only one of the last top appointments in the new Administration, but in many ways it was one of the most important. Yet in the end there was little surprise when President Ronald Reagan last week appointed a moderate conservative, Professor Murray Weidenbaum of Washington University in St. Louis, to become chairman of the Council of Economic Advisers...
...Weidenbaum, 53, a onetime economist for the Boeing Co. and currently a member of TIME'S Board of Economists, was an adviser to Reagan throughout the 1980 presidential campaign and headed a task force on ways to reduce governmental regulatory burdens on business. That group recommended a one-year moratorium on all new federal decrees concerning health, safety and the environment. Among professional economists, Weidenbaum is best known for his work on the economic effects of defense spending, and his studies on the cost of Government regulation, which were among the first ever done on that topic...
Washington insiders have already divided Reagan's economic advisers into two groups: the radical supply-siders, who include Budget Director David Stockman and New York Congressman Jack Kemp, and the moderate Republican conservatives led by Treasury Secretary Donald Regan. Weidenbaum is expected to join the moderates, who place a little more emphasis on the need to reduce the budget and a little less on large tax cuts...
Washington University's Murray Weidenbaum, an adviser to Reagan during the presidential campaign, insisted that the new Administration recognizes that its budget will be controversial and involve some unpopular cutbacks in spending. Said he: "This is not going to be a painless solution. Reagan is trying to avoid the stop-and-go policies that have characterized preceding Administrations, both Republican and Democrat, and hence fight unemployment and inflation simultaneously...