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Politics : Formerly About Applied Materials

AMAT 307.20

+2.0%

Jan 12 3:59 PM EST

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To: akidron who wrote (18763)	4/13/1998 12:40:00 PM
From: FJB	Read Replies (2) of 70976

There is absolutely nothing wrong with "fast paced" growth in the money supply if it coincides with a growing economy which has been the case in the US. It's necessary in fact. Balancing money supply growth vs. inflationary money supply growth is a tricky deal. Greenspan has mastered it PERFECTLY to this point. Here is an opinion for you: ... We've had very good monetary policy ever since Alan Greenspan has been chairman-the best of any period since the Federal Reserve was established in 1913. But Greenspan is not going to stay chairman forever. We're getting euphoria about how inflation is dead. Yes, the pipeline is set for the next year or two. We're not going to have significant inflation in the next year or two. ... No, I believe the next problem in the U. S. will be an inflationary surge in the money supply. What always happens under those circumstances is that when the Fed starts raising the interest rate, it tends to overdo it. [Laughs.] The market will overreact. And that's where you're going to get your recession. ... forbes.com Call me crazy. I agree with Friedman. Show me the inflation.

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