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Technology Stocks : Intel Corporation (INTC)

INTC 36.61

-1.8%

1:39 PM EST

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To: Tony Viola who wrote (124000)	1/2/2001 8:14:09 PM
From: Road Walker	Read Replies (2) of 186894

Tony, I think Greenspan is be unjustly maligned. If you remember back to the notes from the last time the FOMC raised rates, he was against the 1/2 point. He is a relative dove on the FOMC. I agree they made a mistake at the next to last Fed meeting by not going to a neutral bias, if they had they could have lowered rates at the last meeting. The world is watching what the FOMC does, if they appear to be out of control, it affects confidence in the entire financial system. It is not in their charter to support the stock market. The Fed is an easy target for people looking for blame for a painful bear tech market. The truth is, when the pendulum swings too far in the over-valued direction, it's probably going to swing too far in the other direction. But in the long run, a Fed policy that fights inflation is very good for the confidence of the finacial markets, even if they overshoot. I'm as sick of this as you are, but asking the Fed to micro-manage the markets is a mistake. I don't remeber anyone complaining about interest rates until the market tanked. John

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