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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Trebor who wrote (3453)	2/23/1999 11:07:00 AM
From: Wally Mastroly	Read Replies (1) of 15132

Re: Greenspeak + former Vicechair Alan Blinder: biz.yahoo.com Note: Article is still "inprogress" >NEW YORK, Feb 23 (Reuters) - Federal Reserve Chairman Alan Greenspan will not raise short-term U.S. interest rates for the sole purpose of trying to cool off a bullish U.S. stock market as interfering with financial markets is not the purpose of monetary policy, former Fed Vice Chairman Alan Blinder said on Tuesday. ''Alan Greenspan has been trying to knock the stocks down with words for some time now, '' Blinder told Reuters as Greenspan delivered the first part of his semi-annual Humphrey-Hawkins testimony before the Senate Banking Committee. ''This has not been very successful,'' Blinder said, referring to the U.S. stock market bull run since December 1996, when Greenspan raised the issue of ''irrational exuberance'' in the pricing of U.S. equities. <

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