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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: GST who wrote (60321)	6/3/1999 8:46:00 PM
From: BGR	Read Replies (2) of 164684

GST, If AG raises rates to flatten the yield curve, he will basically let the bond market co-opt the Fed's role in the economy and in the process undermine confidence in the Fed at least in the minds of those who feel the need for an independent Fed. OTOH, if he raises rates because he thinks that there is a risk of inflation that may threaten the financial well-being of the US economy, that will be something which falls within the domain of the Fed charter. So, it all boils down to the data. Now, I am personally of the opinion that June CPI is going to be soft. Not sure of the jobs data though. Anyway, so the yield curve is an artifact of the emotional state of some bond traders and hence meaningless as far as inflation in the real economy outside the financial markets is concerned. -BGR.

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