VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: horsegirl48 who wrote (21074)	11/30/2000 12:56:39 PM
From: Sully-	Read Replies (2) of 65232

>>"? I asked before what was caused the 17% rates during the Carter times"<< During that period, there were soaring oil prices which had a much more dramatic impact on worldwide markets, causing steep inflation on a broad basis. We had very strong unions that were pushing labor rates up steeply & many had cost of living wage increases pegged to inflation & a resulted in a snowball effect. Many companies passed along increased unit costs in the form of higher prices while they continued to expand operations. The Fed began to raise rates to put a brake on growth & to slow inflation. At one point the prime rate exceeded 20%. The recession that followed was quite severe & lasting. I'm sure you can see there are similarities in today's environment, yet many significant differences. IMVHO, the ball is in the lap of the Fed. BWDIK? Ö¿Ö

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