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Sprinkel Quits as Head of Economic Advisers Panel

September 18, 1987|Associated Press

WASHINGTON — Beryl W. Sprinkel, chairman of the President's Council of Economic Advisers, said today that he will leave his post in November to return to the private sector "for personal reasons."

Sprinkel, 63, said President Reagan had accepted his resignation with reluctance. Sprinkel said he intends to return to the Chicago area, where he once lived, to serve as a corporate consultant, write, engage in public speaking and possibly teach.

Sprinkel, who has maintained a relatively low profile in the job he has held since April, 1985, reportedly was unhappy that he had been passed over for the post of Federal Reserve Board chairman, a job President Reagan gave to New York economist Alan Greenspan last June, White House sources said.

But Sprinkel said today that "I'm not leaving with sour grapes or irritation. I'm leaving with great respect for the governmental process and for President Reagan."

"I don't like to lose and I love to win. And I've lost a few. But, on the whole, I have no regrets at all," he added.

Sprinkel said he recommended to the President as candidates to succeed him two other members of the council, Thomas G. Moore and Michael L. Mussa.

The economist also said he intends to abandon his relative silence of recent years on controversial monetary issues once he is a private citizen again.

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