The Nation - News from Aug. 15, 1989
The White House, reluctant to pick a public fight with the Federal Reserve Board, offered only lukewarm endorsement for the call by Budget Director Richard G. Darman for lower interest rates to sustain economic growth. White House Press Secretary Marlin Fitzwater refused to echo the comment Darman made Sunday on the NBC News program “Meet the Press” that the Fed should stop worrying about inflation and “be more attentive to the need to avoid tipping this economy into recession.” Although declaring that Darman “speaks for the Administration and the President,” Fitzwater said the White House would offer no further public advice on whether the Fed needs to loosen its grip on credit.
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