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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject10/19/2001 3:51:04 PM
From: Haim R. Branisteanu  Read Replies (2) of 436258
 
Shadow' Group Tells Fed to End Rate Cuts: Rates of Return
By Vivianne Rodrigues

New York, Oct. 19 (Bloomberg) -- In studying the Federal Reserve
for six decades, Anna Schwartz has witnessed some of the Fed's
most aggressive interest rate reductions, such as those after the
Korean War, before Richard Nixon's re-election and during Ronald
Reagan's second year of office.

None of that prepared her for what she's seen this year -- nine rate
cuts in ten months that have left the benchmark lending rate at a
39-year-low of 2.5 percent.

``I've never seen the Fed do so much in so little time,'' said the
86-year-old economist, who established her reputation when she
co-authored a book on U.S. monetary history with Nobel laureate
Milton Friedman in the 1960s.

quote.bloomberg.com
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