July 30, 1985 |
The White House, officially acknowledging reports of a downward revision in its economic forecast, Monday projected a growth rate of 3% for 1985 instead of the 3.9% forecast that it had issued as recently as April. Because economic growth during the first half of the year was an anemic 1%, the forecast depends on achieving an annual growth rate of 5% for the second half of the year, a much stronger rebound than many economists think is possible. Still, Beryl W.
October 29, 1987
The White House is expected to announce today that Beryl W. Sprinkel, the president's top economic adviser, will remain as chairman of the Council of Economic Advisers through next year, Administration sources said Wednesday. "He has been asked and is trying to accommodate the request," said Margot Machol, Sprinkel's chief aide. She said she believed that he would remain in the position because "when the president puts pressure on you, it's hard to say no."
June 24, 1988 |
The Reagan Administration, with its chief economist mocking critics of his earlier forecast of robust economic growth, predicted Thursday that the economy will grow a healthy 3% in 1988 instead of the modest 2.4% growth expected at the beginning of the year. "Our rosy forecast wasn't rosy enough," said Beryl W. Sprinkel, chairman of President Reagan's Council of Economic Advisers.
September 19, 1987 |
Beryl W. Sprinkel resigned Friday as chairman of the Council of Economic Advisers, a post that many economists believe has lost much of its former clout. The 63-year-old Sprinkel, an orthodox monetarist and former Treasury official, cited "personal reasons" for his departure as President Reagan's in-house economic adviser and said he intends to return to the private sector to consult, write and lecture.
January 11, 1989 |
In a parting shot at Congress, President Reagan's chief economic adviser blamed lawmakers Tuesday for worsening the savings and loan industry crisis and recommended that the federal deposit insurance system, which protects depositors against losses of as much as $100,000, "should be significantly curtailed." "We've got a mess" in the thrift industry, Beryl W. Sprinkel, the usually upbeat chairman of Reagan's Council of Economic Advisers, acknowledged.
February 24, 1988 |
The Federal Reserve slightly eased its grip on credit a few weeks ago, Fed Chairman Alan S. Greenspan acknowledged Tuesday, but the central bank is unlikely to let interest rates drop much further unless economic growth falls short of the Fed's relatively modest expectations. Greenspan, testifying before Congress on the conduct of monetary policy for the first time since he took over as Fed chairman from Paul A. Volcker last August, said he does not expect a recession during this election year.