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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (56645)	4/20/1999 11:03:00 AM
From: valueminded	Read Replies (2) of 132070

Mike: A comment on "stealth tightening" - My only objection to this concept is that the FED continues to add reserves at an increasing rate. As a matter of fact, as I read today, they are increasing reserves even though the rate is holding to the steady or lower than the target rate. Hardly what I call "stealth tightening" Tightening may be occuring from the brokerage houses as they recognize a house of cards and do not want to be held liable for individual trading losses - but to surmise the FED has anything to do with it is absurd imo. Also saw article on trade deficit. Good thing that we can include deficit spending in our GDP growth. <g>

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