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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (185508)8/2/2002 1:14:26 PM
From: GraceZ  Read Replies (1) of 436258
 
It always surprises me in these kinds of articles they point out the mistakes that the Fed makes yet no one goes so far to suggest that the price of money should be left to the market. The GDP numbers AG was using were later found to be flawed, thus the justification for raising was unfounded. If rates were left to the market, the market would have adjusted them to fit the true economic condition regardless of whether or not the true economic condition could be known (it can't). But instead we have the Fed reacting herky jerky to its own past mistakes creating the very conditions it tries to avoid.
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