Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: pater tenebrarum who wrote (1392)	7/1/2003 10:02:19 PM
From: yard_man	Read Replies (1) of 4904

gotta love Kudlow ... >>Larry Kudlow: “I don’t think the Fed sets interest rates. I think the market will set those rates. But the Fed can purchase two-years, five-years, ten-years. In fact, when you take a look, year-to-date they have actually bought $10 billion of notes… I just want them to add cash. I don’t want them to control interest rates. Just add excess reserves to the economy and the banking system and let this recovery really develop.” CNBC’s Bill Griffith: “And when the Fed goes out and buys Treasury securities that way, that is what they are doing: they are putting cash into the system. Kudlow: “That is correct. They buy them and they pay for them literally with reserves that they create out of thin air. And it’s kind of a cool system. Too bad you and I can’t do it.” Kudlow: “To me I was hoping for more of a shock and awe statement from the Fed. Something that would have suggested they’re determined to keep pushing liquidity in. They’re determined to move to an excess reserve position. They’re determined to finance the economy and the tax cuts that are going to raise demand for liquidity. And they are determined to keep this position for a good long time. To me, they should have been thinking outside the box. This was very much inside the old box and therefore quite boring… What we really got…was a silent prayer. What the Fed really needed was a Hail Mary...” << <<

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