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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (74238)	9/22/2000 1:21:05 PM
From: stsimon	Read Replies (3) \| Respond to of 95453

There is no way to tell what demand from Asia would have been without the rate hikes, but I suspect it has slowed demand on the margin. Rising energy prices do feed inflation, but not to the degree of 20 or 30 years ago. The only time interest rates cannot stop commodity price inflation is during the political collapse of a government. The rate hikes so far have been modest because inflation has been modest. AG can tighten a lot more if necessary. With unemployment this low he has plenty of room to work. He could easily take unemployment to 5.5% without getting the politicians too worked up.