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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: John F. Dowd who wrote (27185)	7/23/1999 10:06:00 AM
From: codawg	Read Replies (1) \| Respond to of 74651

>>The charter of the Fed is to oversee the national banking assoc. not the equity markets. It is frightening how little folks know about the charter of the Fed and what the scope of their purview is.<< You may not like the results of AGs testimony (I don't either), but it's irresponsible to imply that he's not doing his job. There is no "charter", but there is The Federal Reserve Act passed by Congress in 1913. An overview can be found at wwww.federalreserve.gov. The Humphrey-Hawkins act defines the Fed's primary objectives as economic growth, full employment, price stability, and moderate long term interest rates. Many think this act should be repealed, but until it is this type of thing is exactly "the scope of their purview".