White House policy conference outlines 1985 deficit risks
Economists from NABE attend a White House briefing on the administration budget and policy. Key topics include a $200 billion deficit, calls for a $50 billion reduction, tax reform, monetary policy, and fiscal restraint with mixed views from Senate and House leaders. Vice President Bush highlights regulatory reform and trade protection limits while forecasts from NABE foresee modest 1985 growth and easing inflation.
MENTIONED IN THIS ARTICLE
National Association of Business Economists
NABE
White House
C. Frank Zamowski
Dero
Mowat St. Mary’s College
George Bush
The
Treasury, Commerce and Office of Management and Budget
CMBB
Zamowski
Washington
Congress
House Budget Committee
Jim Jones
Dokla
Senate Budget Committee
Sen
Peter
Domenici
R-N.m
Jones
Mme
Reagan
Treasury
OMB
Joe Wright
Pentagon
Bush
South Dakota
Ronald Pearlman
the Treasury
Federal Reserve
Lyle Gramley
Fed
Gramley
U.S
Clarence Brown
Congress debates Conrail sale to Norfolk Southern
Washington lawmakers opened scrutiny of the Reagan administration plan to sell Conrail to Norfolk Southern for 1.2 billion dollars. NSC chairman Robert Claytor defended the bid as fair and competitive while Transportation Secretary Dole urged swift passage to preserve rail service and jobs. Critics questioned impact on competition and East Coast coal shipments, but NSC argued divestitures would maintain competition and regional service.
MENTIONED IN THIS ARTICLE
Washington
Congress
Reagan Administration
Coifell
Norfolk Southern Corp
Norfolk Southern
Conrail
Norfolk
Robert Claytor
Senate Commerce Committee
Transportation
Elzabeth Dole
Senate
House
John Danforth
D-Mo
Earnest Hollings
D-S.c
Boston
Florida
Kansas City
Jay Rockefeller
D-W.v2
West Virginia
Don Riegie
D-Mich
Detroit
Dole
Paul McGrath
Claytor
CSX Corp
CSX
Clayter
Cs8x
Penn Central
Market Declines as Rates Jump Cloud Equity Trade
New York stocks fell as credit market rates surged, leaving the Dow at 1,281.03 and a lower breadth day. Volume on the NYSE slipped to 107.96 million shares while the blue chip index and S&P measures declined. The dollar’s moves and bond market weakness were cited as factors, with declines also seen across the Nasdaq and S&P indices. The AMEX also closed higher on the day.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Wall
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Mount Economist
De.c. Frank Zarnowski
the News
Frederick, Md
Thureday
Mercantile Earnings
Mercantile Bankshares Copr
Baltimore
Federal Savings Bank
Federal Savings Bank of Maryland
Thomas Johnson
Bel Air Hampstead
Parkville
Standard & Poor
S&p
Dow Jones
Louden Geld
Allg Py Cn Bi Avemco Corp
Ak Balt GE
Bell
BK —H
Clorox
Comsatus
ConData Ao
Exxon
Fairchild Ind
F&m Bancorp
Fst
MD Boe
Gen Motors
Genexas
GenStar
IBM
Emarine
Litton
Lowes
Marriott Corp
MD Natl Cp
M Mercantile Bokshi
Murphy
Phil Bbm
Penney
Plantrn
Potom el
Ryan Homes
Safeway
Kk Standex
Bep
Tandy
USFG
WashGs Whittak
Baker Waits &Co
Frederick
John Hanson
Big John
Mber
Weather