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Technology Stocks : USRX
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To: Janice Shell who wrote (16631)3/25/1997 3:00:00 PM
From: Dwight E. Karlsen   of 18024
 
Thanks Janice. >Rate hike: 25 basis points. A mistake, in my view.<

At least now the markets don't have to live in fear of the "dreaded" admonitions of irrational exuberance. Or do we? What happens if the market rallies up with each 1/4 point increase? -GG-

I agree with someone else here who said that Uncle Alan had painted himself into a corner. Think of how the market would view his speeches in the future if he hadn't of raised rates today: "Alan is jawboning about a high-priced stock market again. He's all talk and no action. Let's ignore him." The biggest economic power on earth can't have a Fed Chairman who forever cries wolf.

DK
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