Printer Friendly

MERRILL LYNCH CHIEF ECONOMIST DONALD STRASZHEIM CITES IMPACT OF ELECTION YEAR ON THE ECONOMY

 MERRILL LYNCH CHIEF ECONOMIST DONALD STRASZHEIM CITES IMPACT OF
 ELECTION YEAR ON THE ECONOMY
 NEW YORK, Feb. 6 /PRNewswire/ -- "We are near -- but not at -- the end of the longest recession in the postwar era, and the most damaging potential for the economy in the long run would be an election year bidding war over schemes to stimulate it," said Donald H. Straszheim, first vice president and chief economist of Merrill Lynch & Co., Inc., before a luncheon meeting of the National Economists Club in Washington, D.C. today.
 Among the remarks made by Straszheim today were:
 -- The nation is entering the new federal budget season with even less sense of discipline than ever.
 -- Our budget making machinery is in need of repair. What we need is an increased focus on savings and investment, not a quick-fix stimulus to consumption.
 -- Only once in the last 50 years has the economy been this weak during a presidential election year. And since the public votes its pocketbook, tax cut fever has hit Washington.
 -- Slow growth should assure that inflation and interest rates remain subdued.
 -- The recovery, expected later in 1992, will be slow by historical standards.
 Straszheim directs Merrill Lynch's global economic forecasting activities and is its primary economic spokesman. He has been Merrill Lynch's chief economist since joining the firm in February 1985. Straszheim previously served in senior economic positions with Wharton Econometric Forecasting Associates (a part of Philadelphia's Wharton School of Finance), the Weyerhaeuser Company, and Investors Diversified Services Corp. He has been voted a member of Institutional Investor's "All America" research team in each of the last five years. Straszheim received his B.S., M.S., and Ph.D. degrees from Purdue University where he also taught economics and statistics.
 Merrill Lynch & Co., Inc. (NYSE: MER), provides through its subsidiaries and affiliates investment, financing, insurance and related services on a global basis.
 The NEC is a nonpartisan, nonprofit, tax-exempt educational organization founded in 1968 to sponsor the public discussion of significant national and international economic issues and their implications for public policy.
 -0- 2/6/92
 /CONTACT: Monica Prihoda of Merrill Lynch & Co., 212-449-7293/
 (MER) CO: Merrill Lynch & Co., Inc. ST: New York IN: FIN SU: ECO


GK-OS -- NY075 -- 7768 02/06/92 13:25 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 6, 1992
Words:376
Previous Article:THOMAS P. MCANDREWS RESIGNS AS PRESIDENT OF MANNINGTON RESILIENT FLOORS
Next Article:ACQUISITION OF COMBINED PLANT SERVICES, INC. COMPLETED


Related Articles
MERRILL LYNCH PREDICTS SLOW ECONOMIC GROWTH IN 1992 WITH AN ELECTION YEAR TAX CUT LIKELY
ECONOMISTS FORECAST SLOW, STEADY GROWTH
MERRILL LYNCH PREDICTS SLOWER INFLATION GLOBALLY IN 1996 WITH ECONOMIC GROWTH 2-3% AND WORLDWIDE BULL MARKETS
Milken Institute to Take Center Stage at Beverly Hills State of the City Luncheon.
Chinese bank calms interest rate fears.
Straszheim to Address China Stimulus at CCG IR's China Rising Investment Conference.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters