All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: SeaViewer who wrote (10564)	2/17/2000 12:40:00 PM
From: Cynic 2005	Read Replies (2) of 42523

This is UFB. Greenspam is pooh pooing the guys who are mocking at his print-a-thon. He more or less is saying you can't prove you are right because I don;t like your measures. In essence he is sending the signal that he is not going to stop printing even while rising rates. The market will have a moon shot? Gold explodes? What now? biz.yahoo.com << Thursday February 17, 12:23 pm Eastern Time Greenspan says money supply measures inadequate WASHINGTON, Feb 17 (Reuters) - Federal Reserve Chairman Alan Greenspan said on Thursday the central bank has had difficulty measuring money supply in the economy and so could not use monetary aggregates to forecast economic activity. ''The difficulty is in defining what part of our liquidity structure is really money; we have had trouble ferreting out proxies for that for a number of years,'' Greenspan said in a question-and-answer session following his semi-annual Humphrey Hawkins testimony before Congress. Greenspan said the Fed has sought to use a variety of money supply measures to gauge liquidity in the economy as a forward indicator of the direction of finance, but has not been able to find a suitable measure. ''Our measures of money have been inadequate and as a consequence of that, we have downgraded the use of the monetary aggregates for monetary policy purposes until we are able to find a more stable proxy for what we believe is the underlying money in the economy,'' he said. >>

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