EMC How high can it go? Message Board

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Technology Stocks : EMC How high can it go?

EMC 29.05

0.0%

Sep 15 5:00 PM EST

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To: GVTucker who wrote (11313)	10/4/2000 10:55:49 AM
From: JRI	Read Replies (1) of 17183

OT GV- Present interests aside...I think Greenspan & Co. made the wrong call the other day (No rate hike BUT WE ARE STILL CONCERNED ABOUT TIGHT LABOR MARKETS AND FUEL HIKES..) The 1st reason sounds too Phillipscurvean, given the economy is clearly slowing (in March, or even June..it was OK...now...it seems less necessary), the 2nd reason seems odd...Little correlation between hikes/sentiment and fuel prices......fuel prices hikes have not contibuted to a rise in core inflation (of any significance), and its pretty clear (no?) that fuel hikes act as more of a tax on consumer spending, than anything else... I won't even go into the rapidly diminishing STOCK wealth effect, Europe's trouble, and Japan malaise... I understand the Fed's role as our benevolent grandfather watching out for inflation (while WE, the average Joe, will not), but the risks clearly seem overweighted now towards slower than 3% growth (or worse) now....is that really what they want to accomplish (at any cost)? Didn't yesterday's statement (slightly) overdo it? Aren't these guys supposed to be forward-looking? (in policy, statements).. Whadda think?

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