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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: limtex who wrote (40058)8/8/2001 3:03:56 PM
From: Jim Willie CB  Read Replies (2) of 65232
 
the Fed doesnt forecast, clearly
they take temperature, using conservative methods
if they forecast, and are wrong, they might unduly torpedo the economy
people would hold back spending out of fear

they simply are NOT competent at what they do
1/3 of the private economist corps has been saying this for months
the Fed constantly points to some blip upward
and attach too much importance to it
then it turns out often to a measurement anomaly

not to mention the heretic economic tenets they cling to !!!

as always, I believe we would have a smoother running economy, with more employment, lower costs, better planning, if the FedFundsRate were tied to the 3-month TBill yield

plain, simple, apolitical, effective
THE ONLY THING TO FEAR IS THE FED ITSELF
/ JW
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