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To: mepci who wrote (163252)	12/17/2000 8:37:04 AM
From: edamo	Read Replies (3) \| Respond to of 176387

mepci......fed not as independent as you state...it was created in 1913 by an act of congress....it did not have the power it now exerts under its original charter.....powers were expanded recently..... greenspan, economists and econometric models are the reason for inflation, deflation and recession.....these entities base future economic reaction on past , sometimes inaccurate data. if they were efficient, there would be no need for multiple increases or decreases in rates....such action is indicative of reactionary measures.... post war years were smooth, economy grew as fed had limited power....trace the economic swings post vietnam....are they coincidental with fed action, cause and effect, or just random?????