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Technology Stocks : Discuss Year 2000 Issues
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To: John Hunt who wrote (8441)8/27/1999 4:07:00 PM
From: John Hunt  Read Replies (1) of 9818
 
Y2K problem unlikely to sway Fed monetary policy

<< The Year 2000 computer problem is baffling to begin with, so it's no surprise economists are all over the map on the question of how it will affect Federal Reserve monetary policy in coming months.

Some Fed-watchers say the so-called Y2K computer bug, while a major concern for the Fed in its role as the nation's banking supervisor, is a separate issue from monetary policy that will not affect interest rates.

Others contend the Fed's commitment to supplying ample liquidity to the financial system around year-end will keep the policy-makers from raising interest rates later this year even if the U.S. economy continues to chug along at a robust pace.

``The Fed sees it as a separate issue from monetary policy,' said James Annable, director of economics at Bank One Corp. ``It is a big huge important issue that can't be remedied or treated with monetary policy,' he added. ``It won't stand in the way (of rate changes). That is their feeling.'

Fed officials see Y2K as a time-limited problem while monetary policy is a long-term tool, he added. >>

... cont'd at ...

biz.yahoo.com

*****

Cheeky & Others

Is it really necessary to duplicate each of your posts on several Y2K threads?
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