Word: weidenbaum
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...outlays for American diplomats to the battalions of inspectors employed by regulatory agencies. Moreover, whatever inflationary impact the Pentagon might have, it is relatively minor compared with that of other Government programs. Today, defense outlays are only half as much as Washington spends on social welfare programs. Says Murray Weidenbaum, a member of TIME's Board of Economists...
...MURRAY WEIDENBAUM: "I really don't have any criticism of Volcker's approach," says this visiting scholar at the conservative American Enterprise Institute. "The Fed, by and large, is the economic bastion of strength and savvy in Washington." Up to now, he says, the Federal Reserve has been following a policy of "expensive easy credit," meaning high interest rates, but free availability of funds; direct control of the money supply, he asserts, is preferable. But Weidenbaum cautions that there is "no guarantee" the new policy can bring down inflation, while in his mind it produces "more certainty...
Republican Murray Weidenbaum, a visiting scholar at the American Enterprise Institute, argues that nothing less than a series of structural changes in the economy can break inflation. He proposes measures, including reduction of Government subsidies to farmers, shippers and other interest groups and elimination of some of the federal regulation burden that discourages innovation and new business spending...
...change the course of the economy for the rest of the year. Any further fiddling with broad policy now would probably worsen either inflation or recession-or both. Says Greenspan: "If inflation is public enemy No. 1, we would be well served by a do-nothing Congress." Murray Weidenbaum of Washington University in St. Louis urges repeal of many Inflationary federal regulations. "My advice is: 'Don't just stand there, undo something.' " But Heller figures that all the Government can do to head off stagflation is "pray and inveigh...
...Murray Weidenbaum, 52, economist, St. Louis. He has been putting his money into short-term securities like Treasury bills. When interest rates peak and start declining, he plans to shift into three-to-five year Treasury notes and perhaps municipal bonds to lock in the higher rates. Less than one-quarter of his assets are in stocks. Says Weidenbaum: "I have been the typical small investor who gets burned repeatedly. I have had a diversified portfolio of lemons...