Excerpt from Problems in Anti-Recession Policy: A Supplementary Paper
In March, 1954, the Research and Policy Committee of the ced issued a statement on national policy entitled Defense Against Recession: Policy for Greater Economic Stability. This policy statement was the result of over a year of study by the Committee and by a draft ing subcommittee. The subcommittee was headed by Fred Lazarus, Jr., President of Federated Department Stores, Inc., and made up of members of the Research and Policy Committee and several other ced trustees.
As background for its discussion of measures to limit a recession, the Committee had pre pared for it a number of Research Memoranda. These were working papers prepared by experts in a number of fields that the Committee thought should be considered as possible sources for policies aimed at preventing recessions. The Memoranda were prepared during the spring and summer of 1953. They were discussed intensively at a number of meetings of the subcommittee responsible for drafting the policy statement and provided much of the material for that statement.
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