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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Mehitabel who wrote (6520)	2/20/2000 3:00:00 PM
From: Lee	Read Replies (2) \| Respond to of 24042

Dear Mehitabel,..Re:.OTOTOTOTOT the objection some of us have to any* one person, however gifted, arrogating to himself the right and power to control the whole economy.* With all due respect I think both you and Mr. Jinn should go to the links below and learn about the operation of the Fed. The Humphrey-Hawkins report is based on the findings and consensus of the BOARD members, among whom, Greenspan is probably one of the least hawkish among the current sitting board. All rate changes and policy actions are VOTED upon by the board members. It is not a one person operation! Greenspan has said over and over that he doesn't have the knowledge or wisdom to know what to do in every situation but it is apparently the boards intent to KEEP this remarkable expansion going. bog.frb.fed.us Responsibilities The primary responsibility of the Board members is the formulation of monetary policy. The seven Board members constitute a majority of the 12-member Federal Open Market Committee (FOMC), the group that makes the key decisions affecting the cost and availability of money and credit in the economy. ny.frb.org The Federal Reserve creates and executes monetary policy to influence monetary and credit conditions in the economy and thereby contributes to the nation's economic goal of non-inflationary growth. Although the Fed uses three major tools to implement policy, the most important is open market operations. Kudlow obviously did NOT read the HH report when he wrote his article since some of his statements are patently false. Cheers, Lee