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To: JDN who wrote (79412)	3/13/2000 9:24:00 AM
From: Lee	Read Replies (1) \| Respond to of 97611

JDN,..Re:.if you read the charter for the Federal Reserve System it was set up to PROTECT the value of the Dollar. I recall nowhere it mentioning inflation. JDN, what happens to the value of your money if we get widespread inflation? <g> 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. Cheers, Lee

To: JDN who wrote (79412)	3/13/2000 9:27:00 AM
From: PCSS	Read Replies (1) \| Respond to of 97611

DLJ has added CPQ to its Value List What this means ... who knows ... but it's probably good Michael

To: JDN who wrote (79412)	3/13/2000 9:54:00 AM
From: MeDroogies	Respond to of 97611

I realize what the charter was for...but you also have to remember the time frame in which it was written. So little was understood about the role of a central bank...let alone economics...that it seemed the proper role at the time. Today, we know so much more about what the bank can/should do, that to limit it to an outdated charter would be shortsighted and dangerous. Nobody wants a recession. But, nobody says anything bad about the Fed unless they do something that investors regard as unpopular. That doesn't mean what they are doing is wrong....just unpopular. By and large AG has done the right thing at every step. He caught ALOT of flack for his handling of the Asian crisis...yet he turned out to be dead right. IF a minor pullback results from this current interest rate direction...so be it. I suspect that we are due for a pullback anyway, and if it is to be blamed on AG, I'm sure he doesn't give a damn. It's the right thing to do. BTW, if you look at the charters of several modern central banks, or those that are modernizing, you'll see that moderating inflation is often one of their main jobs.