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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (9806)8/9/2000 4:45:20 PM
From: UnBelievable  Read Replies (1) of 436258
 
"Stocks rallied this afternoon after the Federal Reserve's Beige Book indicated that, since the US economy is already headed down the toilet of its own accord, it will probably not be necessary to raise interest rates further.

A senior member of the FOMC said that while they wished they could further increase the rate at which they are expanding the money supply, to help the US economy avoid any type of landing at all, that in fact they already were printing money as fast as they could.

An aide to the official indicated that they were hopeful that recent improvements in productivity, which had been noted in other sectors of the economy, would also be realized in the money creation sector and that they would actually be able to exceed the terminal velocity of money.
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