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Politics : High Tolerance Plasticity

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To: cnyndwllr who wrote (2040)	3/20/2001 4:51:44 PM
From: The Ox	Read Replies (1) of 23153

Hi Ed, I was looking at the CBS markewatch home page and they had a little chart of the FED's rate actions. I guess what stands out is that there were mostly small hikes all the way up. Now, we've got a FED that's dropping in larger steps on the way down. I'm not about to tell the FED what to do or how to do it but my opinion on the matter is that the FED should have been doing the same on the way down that they did on the way up. I suppose that a more steady path, instead of what appears to be waiting too long and then making a relatively large cut, might have been a better signal to the market that FED's watching closely. I've been waiting to read that someone 'big' has been on the wrong side of a FED move and that another LTCM type meltdown is happening all over again. The FED is a conservative bunch, which is why we aren't seeing anything larger than a 50 pt cut at this stage, IMO. It's interesting that the DX is still over $114 and that gold has held steady around $260, even with the rate cut. BTW, MetalTrader has a reasonable post on the SD thread regarding gold's action (or lack thereof) lately.

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