| Show 14F The Salt Lake Tribune Sunday December 21 1986 At Iran Scandal Improves area's Choice $20 & uonder Volker’s Base By Bob Rast Newhouse News Service WASHINGTON The Federal Reserve Board is likely to move cautiously in coming months before de- - ciding whether the economy needs further stimulation through a cut in interest rates or easing the money supply analysts say In addition the resignation of ail thg Fed board member Henry Wal-Iic- h and the scandal may Iran-Cont- ra strengthen Chairman Paul A Volcker’s position and could lead to his reappointment as chairman sev-- eral economists say t Until recently that was considered r emote because the administration 'has sought to fill recent Fed vacan- ! ties with advocates of a more “pro- - growth" monetary policy than 'Volcker generally has followed Wallich 72 has been a resolute inflation fighter and one of Volcker’s F5-era- l closest allies on the Open Market Committee the arm of the board that actually sets monetary policy His resignation was effective Tuesday and gives President Reagan the unusual opportunity to name six of the Federal Reserve Board's seven members In October Emmett J Ric? an- Bounced he would leave the board on Dec 31 to return to the private sector ' So far Reagan has appointed Fed Ylce Chairman Manuel H Johnson -- and named board members Martha Seger Wayne D Angell and H "Robert Heller £ No replacement for Rice has been ’ announced but the word on Wall Street is that Reagan has settled on Robert D Rogers chairman of the Federal Reserve Bank of Dallas who is a advocate Wallich’s successor will serve until 4 & JP ft? r pro-grow- J £ tfVr January 1988 while Rice’s would remain until January 1990 Both could be reappointed to full terms Volcker originally was named to the Fed by President Carter in 1979 and reappointed to a four-yea- r term as chairman by Reagan in 1983 That term expires next August Because of past sharp differences ’’t ' i lV 4 v A a One Size Fits All No need to worry about selecting the right size! The solution is this crew neck pullover of soft fleece in an assortment of pastel colors over monetary policy between Volcker and White House chief of staff Donald T Regan and White House chief economic adviser Beryl Sprinkel it was thought unlikely that Volcker would be reappointed or elect to stay even if asked But the Iran arms sale controversy and recent administration praise for Fed policy have tilted the equation in Volcker’s favor economists said Tuesday ‘Volcker’s power in terms of influence with administration policy circles will gain in proportion to the demise of Don Regan in the White House because of the Iranian fiasco” said David Jones of New York securities dealer Aubrey G Lanston and Co With White House attention focused on the Iranian affair “the last thing the administration would want is financial instability and upheaval that the loss of Volcker as Fed chairman would bring to international markets" Jones said The chairman's power appeared to hit a low last February when the Fed majority outvoted Volcker on the timing of a cut in the discount rate the interest rate the Fed charges to its member banks for short-terloans The vote was reversed before it was announced but Volcker was said to have been ready to quit at the time 1 Gallery b u M 600 li Shirts With A Tailored Line r' if 6-1- 'if 1999 at?v c Plenty Of Patterns The season takes on a bright outlook with our long sleeve cotton big shirts Stripes florals and foulard prints on light or dark grounds SML Reg $24 to $28 I) n- 1799 Women’s Sportswear Hi ' Diane Von Furstenberg® creates a look to perfectly complement her casual outfits Polycotton shirts in pastel stripes plaids and tattersall checks Pink blue aqua or yellow 6 Reg $24 I j A 04$ - (Filed bv Newhouse News Service ington D C ) '5 f'i F - Wash- v' Jt Jj nt WE’LL DELIVER Mt up in FOR CHRISTMAS S L Valley r‘ - GRANDFATHER CLOCK 5 $ Tf I iVf 7 -- ' jt A 5 ' i '' t V- -' x V : 1 X ' lx X EARN ' HO 000 or mom oft our codtf'eoto — Com act) yeor otfecftve an- nual y'eid Gat FRCtl Ctocfc tha Ta indgato rt 11070 Uat frtoe d Accessories Of Every Kind Even the most particular man Tie Tacs& Collar Bars Money Market f It All Texture And Pure Cotton Doesn't that young man on your deserve something special? The ideal choice is our sculptured 100 cotton sweater in white red blue aqua or yellow Reg $24 list 500-150- 1999 Children s Dept except ZGMI Center 0 e Mens Dept Suspenders Cloves Adds Up To Style Keeping things organized was never this easy! Prince Gardner® leather clutch with calculator credit card compartment coin purse and a removable checkbook cover Hot pink navy burgundy taupe or grey 1599 c Under Cover or Wool Ties 1000-185- 0 Wal'ets & Ke Cases 1 1 00-200- 0 — Table-war- e Silk HOME IS WHERE THE GIFTS ARE Mantle Clock — Stain! — Clock Radtoe-lncludFREE with money market 1000 600-100- 0 Mutrlers 12 Mo RCA Video Recorder RCA 20" Color TV be delighted Oak Tie Rack tefe Chaffy fiMah $8000 will to receive any item from our collection of handsome accessories Tuna China Wiin - F L This Elegant Clock Free v 1 K D Depeatl flaw ooar’lj 1200-150- 0 Ikar-- q Mcnci C hnslmns welcome splash of color on a rainy day! 19" folding nylon umbrella by Prince Gardner® It's a in 1200-200- 0 an array of pastels and brights 500 ed A 5 rfsm ' 11 ANO - tow Accessones as $1000 EackOepoctor future It fl&jM n CALL 4 '’' -- '! 487-081- 1 'SVj&Yss? HOLIDAY STORF HOURS- - fasf in I'Ui o y mi oihti Sundiv nil t s mas mao io Momldv ami i A Tuesday ji au i t 99 mi (Fashion Place t MIR & University Mall 9 10) Chnstmas Eve 9 6 Fnday10-- iTanos place mall lmRsit mail 9 Saturday 10-- 6 |
