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Strategies & Market Trends : MOVING NOW!
CTIC 9.0900.0%Jun 26 5:00 PM EST
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To: Patricia Meaney who wrote (5001)10/27/2000 10:30:08 PM
From: kendall harmon  Read Replies (1) of 8046
 
David Gaffen has a provocative piece in TSC/Realmoney about why the fed is not going to ease any time soon. He writes:

Many economists believe this [i.e. the wealth effect] acts on a lagging basis, and with consumers richer, thanks to the market, than they were a few years ago, the stock market's recent decline hasn't decimated the average balance sheet.

Is this true?
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