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Technology Stocks : America On-Line (AOL)
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To: JDN who wrote (39725)5/7/2000 7:34:00 PM
From: John Dunigan  Read Replies (1) of 41369
 
JDN,
The role of the FED isn't to make us happy it is to control the value of our currency and keep the country employed.The stock market has made lots of us wealthy beyond normal expectations and thusly some spend more than we need to rether than save for more difficult times.
There is always room for differences of opinion and you just happen to have one with Mr. Greenspan & Co.
Keep in mind he is the architect of this Bull market and deserves more credit than you've given him.
If he had raised interest rates 1 1/2% a year ago where would we be now? No answer required because we don't know, but probably not as well off as with a steady diet of "gradualism".
In the end there is, as you state too much for the FED to kill this economy and will take an oil catastrophe or war to cool it significantly.
Like you also said IMHO or not.
John
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