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Politics : Idea Of The Day

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To: James Strauss who wrote (19387)	8/18/1998 1:56:00 PM
From: Lee	Read Replies (2) of 50167

Hi James,..Re:<< Why The FED Will Lower Rates In The Next Six Months>> I know this was addressed to Ike but I felt compelled to point out a few important facts. Besides the fact that none of us knows exactly the extent that the Asian turmoil will have on the US economy, Mr. Greenspan is a firm believer in allowing the markets to set direction and level. In other words, besides the fact that only US domestic economic considerations are the mandate of the FED, Mr. Greenspan would never alter FED policy for purposes of adjusting value levels of various currencies. I think he sees the market at an efficient machine which will reward fiscal responsibility although it has been rumored that the Fed did contribute liquidity in times of market crisis. The other important fact is contained in a post by Ike several days ago which summarized current economic conditions. Message 5508280 Cutting through these distortions, the U.S. economy continues to grow at a solid pace with very little inflation. As Ike has many times said, we listen to the markets for the best clues and the markets are telling us that 6 months from now things might not be so bad at all. Regards, Lee

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