Word: weidenbaum
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...surprise. On his trip to St. Louis last week, President Ronald Reagan, chatting informally with a local television news reporter, mentioned that "one of your own will be returning to St. Louis." When the reporter asked casually, "Who is that?" Reagan replied just as offhandedly, "Well, it is Murray Weidenbaum...
...weeks ago, Weidenbaum, 55, informed the President that he wanted to leave his job as Chairman of the Council of Economic Advisers in order to return to teaching at Washington University in St. Louis. Reagan accepted the resignation "with deep regret." The premature disclosure forced Deputy Press Secretary Larry Speakes to insist that Weidenbaum's resignation "is in no way connected with any policy situation whatever...
...affable Weidenbaum never seemed to find his niche in Washington. The last top economic adviser to be appointed in 1981, he discovered that most of the major policy decisions had been made before he arrived. For a while, Weidenbaum was the peacemaker between two policy rivals: Treasury Secretary Donald Regan and Budget Chief David Stockman. Last fall, when Regan and Stockman were fighting so hard over the issue of raising new taxes that they refused to talk to each other, Weidenbaum became the intermediary...
...Weidenbaum's replacement will have to address these problems as well as an ongoing debate over whether to stick to Reagan original tax-cutting plans or moderate the revenue reductions to hold the line on the federal deficit...
Despite Feldstein being mentioned publicly as a possible replacement for Weidenbaum, other economists who work with him at the College and the National Bureau said yesterday that they have heard nothing about an invitation from the White House...