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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (18355)	6/23/1999 8:38:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Michael, the Fed is already reactive inasmuch as it is following where the bond market is leading. i understand though that you mean proactive in the sense that inflation has (officially) yet to show up. imo the Fed is between a rock and a hard place; not to raise rates would be the equivalent of letting the mania spin totally out of control - raising them is a necessity from a macro-economic standpoint to reign in above-trend growth, but ultimately risks the sudden bursting of the bubble. regards, hb 1/2 point? that would sober up the market for sure.