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To: pater tenebrarum who wrote (64535)	9/28/1999 9:13:00 AM
From: John Pitera	Read Replies (3) \| Respond to of 86076

Leave it to the German's to hammer home the inflation point -ng- Speaking late Saturday, former Bundesbank president Tietmeyer said that inflation could never be declared dead and he was unconvinced foreign currency intervention would have a lasting effect on the markets. His views are likely to reflect the ECB's and FED's not least because Greenspan, Summers and Duisenberg all agreed with him at the time. Tietmeyer said interventions might have some success some of the time but in general such action was in no way a substitute for good policies. On a different note, Tietmeyer warned that there were bubbles but often they were no recognised until after they'd been burst.