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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: JBW who wrote (65603)	7/31/1999 1:06:00 PM
From: Joan Osland Graffius	Respond to of 132070

John, Re: trade deficits. I agree with your conclusions. These darn trade deficits just put more USD in the hands of our trading partners to dump in the markets. The Fed is currently letting the $ fall against our trading partners currencies. I wonder how far they are willing to let it fall. I am not an expert, but I don't think Greenspan has any choices but to continue to run behind the bond market raising rates to keep the foreign money from leaving our shores. I watched his performance this week and he was begging the boys on the hill to pay down the debt. Mopping up this mess is going to be tough. Joan