Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.32

+2.3%

Nov 21 9:30 AM EST

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To: waverider who wrote (67486)	2/18/2000 4:35:00 PM
From: RocketMan	Read Replies (3) of 152472

I just hope his advisors fill in the holes. Well, here is what one of his advisors had to say today: Friday February 18, 2:23 pm Eastern Time Fed incremental in case it makes mistake - Kelley BONITA SPRINGS, Fla., Feb 18 (Reuters) - Federal Reserve Board Governor Edward Kelley said on Friday the U.S. central bank was moving interest rates in small increments because the economy is changing radically and the Fed could make mistakes. In a question-and-answer session after a speech to the Bonita Springs Speakers Assembly here, Kelley was asked why the current group of Fed policy-makers tended to move rates in small 25-basis-point steps. ''...We see ourselves in an era where change is radical and it's very very difficult to be very very sure what you are doing is the correct thing to do at any given time. So it seems to us that the best way to go is incrementally,'' he said. ''We never want to bet the ranch on any one theory. We could very well be proven wrong over time in any different direction and there's always got to be a way back,'' Kelley added. ''There's always got to be a way to change if you turn out to be wrong without having done an enormous amount of harm in the process.'' In other words: We are in a new era and we are clueless. We could really screw things up if we make a mistake. So we will just raise interest rates a little bit at a time in case we are wrong. I wonder if they ever thought about not doing anything, and just waiting to see what the economy does.

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