To: Poet who wrote (9377 ) 2/2/2001 9:34:03 AM From: hobo Respond to Good morning Poet, i appreciate your comments. i like your thread i have learnt a great deal and expect to continue doing so. not only do i learn by the comments of others, but i find doing my own research that leads me to more knowledge. in addition, i also find the thread very civil without the "stuff" that goes on in the ...well... "other threads".economist.com Preventing a recession, if one is on the way, may be beyond the Fed ON THE ground floor of the Federal Reserve building in Washington, DC, is an electronic game which tests a visitor’s skill at setting interest rates. You decide whether to tighten or loosen monetary policy in response to events such as rising inflation, a stockmarket crash or higher unemployment. Get all the answers right and the machine declares you ready to be appointed chairman of the Fed. In real life, the correct answer is rarely so clear: huge uncertainties about when and by how much to change interest rates cloud the calculations—and never more so than now. As the American economy lurches from a breathtaking boom to what some fear may be slump, the Fed is cutting interest rates with unusual zeal. Will that be enough to avert recession?That letter may be in particular demand this year, and not just for use in the president’s name. The V-shaped recovery the markets are counting on could turn out to be W-shaped, with a second, deeper downturn lying ahead. Better fix those keyboards right away.
