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To: Eric Wells who wrote (87154)	12/12/1999 12:41:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

My original statement was to the effect that if people had more cash on hand, initially, it would lessen the need for using a credit card - and that this might initially put downward pressure on interest rates. The effect would probably only be temporary - once Y2K passes, people are likely to either spend or re-deposit their extra cash. Eric, How do you figure people have more "money" on hand? If an individual had $1K in the bank and the Fed has increased money supply, is not the $1K in the bank still $1K? Glenn