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To: Jim McMannis who wrote (126528)	2/3/2001 3:20:30 PM
From: Paul Engel	Respond to of 186894

McJimbo - Re: DAN# and "INTEREST RATES DROPPED IN HALF DURING REAGANS TENURE!" He's called Monica Blow Hard for a GOOD REASON !! He thinks Jimmy Carter was an economic GENIUS I guess ! Paul

To: Jim McMannis who wrote (126528)	2/3/2001 6:29:15 PM
From: Dan3	Respond to of 186894

Re: INTEREST RATES DROPPED IN HALF DURING REAGANS TENURE! Jim (and others), You are absolutely right, and I was mistaken. stls.frb.org I'm sorry for the error. I do believe that the actions of Reagan and the supply side wing of the Republican party prolonged the period of high rates through their deficit spending. But that's a conclusion of mine. You are right that the high rates began under Carter, and under a Democratic congress as well. I'll continue to conclude that Reagan's supply side economics prolonged them for years longer than would otherwise have been necessary, but I've had to change my tune about who had to raise rates in the first place. Apologies, Dan