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Politics : Ask Michael Burke
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To: Sam Citron who wrote (24341)10/29/1997 12:50:00 PM
From: Joss  Read Replies (1) of 132070
 
Hi Sam,

I have no position on the "Fed Buying" theory and am not an expert on the fed. That said, I also don't know what the limits are on the actions of the fed. Do you have a link to the document that delineates the authority of the fed? If not, can you give me a reference to substantiate your comment?

<<No rational person believes the Fed bought stock index futures yesterday. They have no such authority (express or implied).>>

Thanks,

Steve
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