Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

3:59 PM EST

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To: jmanvegas who wrote (71486)	5/4/2000 5:23:00 PM
From: limtex	Read Replies (5) of 152472

JMAN - why does everyone seem to assume that the Fed can "slow" the economy with the level of interest rate increases that may have worked in the past. The super normal growth of the economy may require super normal interest rates to slow it. That means way above the kind of interest rates that anyone has seen during the last century. It seems to be clear that nothing is more important to the Fed than slowing the economy. Bu since the economy is acting in a way that Mr Greesnpan has openly admitted several times that he doesn't quite understand it may be that it refuses to slow down under the influence of the kind of interest rate rises that have in the past been effective at cooling the economy. If my premise is correct then Mr Greenspan may simply be forced to crush the economy unitl he has broken its back. This may be quite an expensive lesson in economics for the US and investors in making Mr Greenspan experienced in an economy that is growing under the influence of benign inflation and the greatest period of innovation driven productivity increase in human history. Best regards, L

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