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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (47698)	6/17/1999 11:13:00 AM
From: IceShark	Read Replies (1) \| Respond to of 86076

I don't know if he is trying to goose it. But he certainly wants to leave the impression that he doesn't give a rat's ass if it goes higher, 'cause you can't tell a bubble until it is over and who are we to argue with all the market participants, but he is concerned about what would happen if it fell and wants a lot of ammo to deal with the aftermath if it should happen. Therefore, the Fed's bias will always be to not hurt the stock market, irrespective of the valuation level, and to rush in with a safety net should it fall. I think he got read the riot act by Rubin on the Fed's job after his irrational exuberance comment.