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To: OLDTRADER who wrote (144175)	10/8/1999 10:49:00 AM
From: Lee	Respond to of 176387

WBM,..Re:. in a period of a downward leg of the Kondraitiff wave (dis-inflationary)for 18 years This is probably because Volcker went to great lengths via interest rate mechanisms to reduce the inflation of the '70s and early '80s. senate.gov Those favoring confirmation contended: Mr. Volcker has done an extremely good job under some very difficult circumstances imposed on him by the fiscal policy of Congress. Unfortunately, politicians always try to find a scapegoat for bad times. Many pundits have recently blamed Mr. Volcker for the recession, high interest rates, unemployment, and the Democrats' losses in the 1980 elections. The record shows, however, that Mr. Volcker is the best man for an unenviable job. Immediately after assuming the chairmanship in 1979, Mr. Volcker embarked on a monetary policy with one purpose: to break the back of the worst peacetime inflation this country has ever suffered. These same mechanisms have served to maintain price stability even in the face of increased commodity prices. futures.tradingcharts.com CRB Cheers, Lee