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Politics : Ask Michael Burke

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To: Earlie who wrote (70633)	11/16/1999 8:43:00 PM
From: valueminded	Read Replies (1) of 132070

Earlie: It will take short term interest rates upwards of 8% to take down this bubble. He has expanded liquidity waaay to fast and although he continues to expand it, it is beyond his control. If you note, the markets have gotten bolder as evidenced by a pretty decent rally ahead of the meeting. Up to now, they would be rather subdued. This means that they know a paper tiger when they see one & they know he will not act to surprise the markets. He wont act unless forced to. The only force will be cpi, (which he hasnt responded to yet as cpi is up this year yet rates are now only even with last year). I expect cpi to accelerate exceeding 6% next year and possibly as high as 9% the following year.

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