Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (49739)	5/10/2004 8:38:31 AM
From: macavity	Read Replies (2) of 74559

You miss the point. Mr G may still believe that. But it is not the job of the Fed Chairman to worry about it. The Fed's remit is to ensure growth - not protect the value of the dollar or extinguish inflation. Their entire raison d'etre is to generate inflationary growth. When Volcker raised rates and reduced money supply it was to generate growth not to kill inflation. Falling Inflation and long-term interest rates were just a simple by product. Mr G has to keep GDP growth positive and rising -simple. The rest is just people misunderstanding why he is there. -macavity

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