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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Daveyk who wrote (34983)	5/10/2000 11:21:00 AM
From: Jeff Jordan	Read Replies (2) \| Respond to of 43080

I see no reason for the markets to panic and correct that fast....if it does, blame the FED! It will take a few years to recover from that impact! But why???? A normal bear correction takes time....this is a fine mess they are getting this country into.....If they cause any large institutions to go under because of this it will be a clusterflux. add the goverments targeting of Microsoft also as to killing of the economy for years to come...no doubt in my mind repercussions will be large..... JJ Subject 33965 I can't wait for the Senate to call Greenspan up to the hill for lying to them! Alan Greenspan defended the Federal Reserve's recent interest rate increases today as necessary to keep the current prosperity on track, and denied that he was putting the entire economy at risk just to rein in the bull market. In an appearance before the Senate Banking Committee, Mr. Greenspan, the central bank chairman, parried questions from members of both parties about whether he was putting too much emphasis on the strains that rising stock prices might be creating in the economy, and too little on the benefits of low unemployment, steady growth and low interest rates. Elaborating on comments he made last week, Mr. Greenspan said that while he was not aiming at stock prices, he had to be concerned about how the run-up on Wall Street translated into increased consumer spending and a broader increase in demand for goods and services. That "wealth effect," he said, was contributing to an imbalance between demand and the economy's ability to produce the supply needed to meet it, the classic precondition for an outbreak of inflation. Mr. Greenspan said he saw no evidence of inflation outside of rising oil and commodity prices. But as he did during an appearance before the House Banking Committee last week, he suggested that the Fed would continue raising rates in small steps until the economy slowed from the blistering pace it set late last year