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Politics : Formerly About Applied Materials
AMAT 242.41+5.0%3:59 PM EST
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To: w0z who wrote (45532)4/18/2001 1:53:18 PM
From: Ian@SI  Read Replies (2) of 70976
 
Bill,

I wish I could argue with your observations.

However, I couldn't understand the need for 7 increases in the fed funds rate given:

1. Fragile global economy which was recovering from the Asian flu
2. Relatively low Capacity Utilization throughout the tightening period.

Regardless of the pain that we feel is attributed to the fed, his tenure there has seen a period of unprecedented prosperity. And even today, there's no certainty that the overall economy has gone or will go into recession.

So history may still regard him as a near God. As long as it isn't written by those who were overweight in high tech. :-(

Ian.
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