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Technology Stocks : Dell Technologies Inc.

DELL 120.07

-3.1%

Jan 7 3:59 PM EST

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To: Jack T. Pearson who wrote (17935)	10/9/1997 5:56:00 AM
From: nihil	of 176387

RE: controlling inflation You omitted the primary means of controlling monetary expansion and inflation -- namely, Federal Open Market operations in short term securities. The Federal Reserve Banks (privately owned corporations) have vast portfolios of short-term Federal securities (Bills and Notes, mostly). When FOMC (BoG + 5 FRB Presidents) decides that expansion is excessive, it directs FRBks to sell Treasuries in the open market, and extinquishes bank reserves dollar-for-dollar contracting the money supply and reducing the supply of loanable funds. When FOMC thinks expansion is too slow, it directs FRBks to buy Treasuries (paying for them by writing checks on themselves (Actually transferring reserves) and this stimulates the economy by creating free reserves to support increased commercial bank lending.

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