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To: BGR who wrote (66948)10/6/1999 5:34:00 PM
From: pater tenebrarum  Read Replies (2) | Respond to of 86076
 
BGR, i was around in '87, and the Fed reacted to a sharp decline in stock prices by immediately turning on the tap...something you claim it is not allowed to do. btw, the massive liquidity injection of late '87 led to the economy overheating and necessitated a lot of tightening later, which ultimately brought on the '90 recession.
as to the Jackson Hole speech, i'm sure you can find it somewhere on the internet, it was pretty clear to me.

hb


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