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Politics : Idea Of The Day
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To: Nancy who wrote (20374)9/12/1998 10:49:00 PM
From: Roebear  Read Replies (1) of 50167
 
Nancy,
Agreed, much as we all could use it, I would find it outside of AG's Modus Operandi if he were to announce a rate cut at the next meeting. He tends to do things rather deliberately, as you noted. Also he does not act hastily, instead waiting for a preponderance of evidence before he acts. Especially since the markets are still above the levels which he called "Irrational exuberance". The fact that the markets moved up so quickly on hopes of a rate reduction last week will make him all the more reticent to reduce rates on short notice. A case of the Bulls shooting themselves in the foot, I am afraid.
On the other hand, what do I know?
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