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Politics : Ask Michael Burke
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To: BGR who wrote (78307)3/22/2000 10:24:00 AM
From: Les H  Read Replies (3) of 132070
 
Raising the rates 25 basis points at a time is a mistake, unless you're a chairman of the Fed caught in the headlights. The first three hikes only undid the panic rate decreases of 1998. They had nothing to do with the economy so in effect he wasted at least 6 months while inflation was building. It's even more a mistake to tell people in advance the rate increases since they just move up spending. The economy is not a single entity --- you have high inflation on the coasts as witnessed by the housing market.
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