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To: William Hunt who wrote (123577)	12/21/2000 5:25:21 PM
From: Tony Viola	Read Replies (1) \| Respond to of 186894

Bill, I guess Greenspan doesn't want inflation to erode people's 401Ks or other retirement money. I'll go along with that. Problem is most folks' retirement money is probably in the market, so he succeeded in wiping it out quicker that way. OK, you don't need to have any of it in tech, but we've all learned that is where the growth is, so it's kind of hard to not go there. I agree that he overdid it. Like I said before, he obviously prefers to err on the side of going too far to make sure he kills any possibility of inflation dead dead, rather than taking some risk by letting the economy run and going with less than 6 cuts (two @ 50 BPs). Just another thought, if the Japanese economy were not so fouled up, this would have been a good opportunity for them to make a big comeback in R&D. Guess we kind of lucked out there. Merry Christmas to you too, Tony

To: William Hunt who wrote (123577)	12/21/2000 5:27:33 PM
From: willcousa	Read Replies (1) \| Respond to of 186894

The Fed needs Milton Friedman

To: William Hunt who wrote (123577)	12/21/2000 6:06:00 PM
From: Dan3	Read Replies (1) \| Respond to of 186894

Re: I do not understand why we are waiting to lower interest rates ---Greenspan has already targeted the markets It's because Bush is running around saying he's going to take a huge whack out of tax revenues. He indicats that it will happen after about a 15 second review of how much to whack and what the implications of his actions will be. That has tied Greenspan's hands - he can't cut rates in the face of a threatened slash in federal revenue of large but unknown size (which will put us back into Reagan style deficits and destroys the value of the dollar). So we are all screwed. Don't blame me, I didn't vote for the lightweight. Dan

To: William Hunt who wrote (123577)	12/21/2000 6:29:52 PM
From: Road Walker	Respond to of 186894

William, The Fed blew it last month by not going to neutral. They were afraid of the markets reaction. At this meeting, they couldn't go from fear of inflation to cutting rates. So we got the worst case the markets could get, "the economy is heading towards recession, and we (the FOMC) is doing nothing about it". I expect a 1/4 point before the next meeting, or a 1/2 point cut at the end of January. Unless the economy perks up, unexpected, which would be the best case. John