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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: NOW who wrote (2176)6/9/2003 12:59:50 PM
From: Perspective   of 4912
 
The only justifications I can see for the Fed's actions are either

1) the Fed believes the damage they are going to inflict will be less than the damage that would be produced if the price level were permitted to fall in a general deflation

or

2) they wrongly believe that they can raise rates fast enough to correct years of liquidity injections without producing a depression

BC
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