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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (10757)	2/18/2000 6:18:00 AM
From: fut_trade	Read Replies (1) \| Respond to of 42523

Mr. Greenspan's hawkish remarks underscored a main theme of his remarks: that financial markets have been surprisingly resilient in the face of Fed rate increases. As a result, he implied, the Fed will continue tightening monetary policy until markets have conclusively moderated. from wsj.com The INDU and the SPX, the two benchmark indices, have made little progress in the last nine months. So I would say his policy is working. If A.G. wants to control the Nasdaq as well...I just don't think it's possible without causing severe damage elsewhere. I guess the proper way to control the Nasdaq would be to slow down the advance of M3, but at the same time that play could be lethal to the SPX.