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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (47375)	2/14/2001 12:51:58 PM
From: Mark Konrad	Read Replies (1) of 57584

Gas pedal/Brake pedal: It's not unthinkable for the Fed to drain reserves a bit before lowering rates again. During 2000, they drained reserves AND raised rates to cool a perceived overheated economy and deflate a bloated money supply from the pre-millenium emergency plan. In Jan 2001 they added reserves AND lowered rates to help a crashing economy (and the market reacted accordingly). If AG now believes liquidity is sufficient but real rates are still too high in our non-inflationary environment, a slight draining BEFORE more rate decreases may pave the way towards boosting growth and productivity while restraining overspeculation. That's my take, anyway--MK--

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