Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: nspolar who wrote (19751)	10/3/2002 3:32:20 PM
From: isopatch	Read Replies (2) of 36161

<According to some...sources Greenie hasn't been that accomadative of late> That's right on, in my view. O.N., or repos of a few days don't mean much. However, looking at the more important AND regular longer period liquidity injections - such as the 28 day (that usually occurs on Thursdays); the size of these adds has declined steadily since late last year when Mr Green Jeans ended the post 9/11 period of stimulation and began slowing the rate of liquidity injections into the credit system. From 5 billion, to 4 on the 28 day, and in recent weeks we're al the way down to 2 billion. That's a very big drop. app.ny.frb.org If we take a look at the 12 month impact of all the different period injections on the various monetary aggregates we see the same pattern of slow down very sharp slow down since early this year. martincapital.com If this guy were a bus driver? His passengers would all be wearing crash helmets and neck cushions for whip lash.<g> Where's Ralph Cramden when we need him?! Long time Fed watchers have seen this happen repeatedly during Sir Alan's tenure as Fed Chairman. Overshooting the mark by maintaining a policy stance longer than economic conditions warrant. For an economy that's at high risk of sinking back into recession? Just a few example data sets supportive of such concerns. martincapital.com martincapital.com martincapital.com IMHO? The Fed is too restrictive. Why are we seeing such a pronounced reluctance to be more stimulative when a weakening economic and financial system require it? Let's hear from some other contributors on this question. I'll try to weigh with a thought or two, later. Isopatch

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