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Politics : Formerly About Advanced Micro Devices

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To: Scumbria who wrote (112506)	5/24/2000 7:46:00 PM
From: tejek	Read Replies (2) of 1570872

Bartlett: I don't deny they deserve a great deal of credit. But you have to realize that the good work that Volcker and Greenspan did was to really compensate for the bad work their predecessors did. In the '70s, they simply had too much money chasing too few goods. Volcker and Greenspan did a great deal to restore the credibility of the Fed as an inflation fighter and they do deserve a lot of credit because inflation is insidious. It's very, very bad for the economy. (But) there's a time when you should declare victory and not keep fighting the inflation of the '70s. I know we disagree on this issue but those two paragraphs say it all for me. In the last 10 years I think Greenspan (and the feds) have kept a steady hand when it comes to keeping the economy on track. I think there is sufficient evidence of that. I do not think it is an easy task nor do I think there is a tried and true formula....you have to wing it sometimes. I expect that if there is sufficient evidence that the economy is slowing down, the feds will stop with the increases. Just for the record, the feds did not say they would increase rates in June as so many expect....that's the media's interpretation. ted

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