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Technology Stocks : Intel Corporation (INTC)

INTC 34.50

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Nov 21 3:59 PM EST

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To: Road Walker who wrote (129868)	3/14/2001 7:44:59 AM
From: GVTucker	Read Replies (1) of 186894

John, RE: The FOMC was reacting. Indeed. To Greenspan's credit, he has been in a reactive mode for some time. Rather than get proactive and anticipate what rates should do (as was his wont a decade ago and was the tendency for most Fed charimen before that), he pretty much has followed market rates. Given that our economy really is unlike any other in history, that probably was a smart decision. It meant that he kept rates lower than most economists thought wise throughout the 90's. Of course, it is also arguable that he kept rates higher than was otherwise necessary last year.

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