The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 163.32

+2.3%

Nov 21 9:30 AM EST

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To: Art Bechhoefer who wrote (10467)	5/19/2000 7:16:00 PM
From: J Krnjeu	Read Replies (1) of 13582

Hell Art Bechhoefer, What worries the Fed is NOT inflation as measured by consumer prices but as measured by some curious notion that stocks are too high. It is not in the charter of FED to target stock prices. They are only to protect the money supply. Everyone knows the FED is going after inflation (even if it doesn't exist) and doesn't care about the stock wealth effect. The FED would never go beyond their charter after stock prices. I wish we would have a senator/congressman who would call Greenspam on the carpet about this so called stock wealth effect. I would rather see some kind of a control that says if inflation goes up by x% then interest rates go up by x%. In some industries, an increase in interest rates causes an increase in prices causing an increase in the inflation rate. Shelf fulfilling prophecy. I believe Greenspam is OVERRATED, under knowledgeable(?is that correct) and just plain lucky to have served during the 90's. I believe that Y2K caused the tech revolution and the increase in productivity. As 1999 went out to bad it didn't take Greenspam with it. Thank You JK

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