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To: Adam Nash who wrote (47424)	1/29/2001 9:33:28 AM
From: GVTucker	Read Replies (1) \| Respond to of 77400

Adam, RE: In fact, nominally, the goal of the Fed is monetary stability (read: no inflation). Actually, one of the worst things about the Fed (IMO) is that the Fed is equally compelled to worry about both the economy and inflation. We'd be much better off (IMO, of course) if the Fed were only responsible for keeping inflation within a certain range, say 0% - 3% or so, and let the economy fall where it may.

To: Adam Nash who wrote (47424)	1/29/2001 9:42:30 AM
From: michael97123	Respond to of 77400

Adam, Greenspan is a polician first. And no politician would throw away a prosperous economy to ward off questionable inflation especially after he had just made that mistake a few months earlier. Anti inflation may be job 1 of the fed but not necessarily its chairman. If things are potentially real bad for the economy, he will take the risk of 3-3 1/2% inflation any day to ward off a deep recession and the return of politically unacceptable unemployment. I find it amusing that the younger generation finds inflation the number 1 enemy and the surplus the number 1 good. I believe younger folks should take a look at the real catastrophe which is depression and severe recesssion. Thats where people suffer. If it takes a 3% inflation rate to be gradually reduced to fight that so be it. Lower rates and tax cuts are our only weapons to fight recession. Austerity is the worse policy now. Mike