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To: John Lacelle who wrote (18431)2/13/2001 4:23:36 PM
From: jmanvegas  Read Replies (4) | Respond to of 24042
 
AG blew it bigtime IMO. He knew about a slowdown starting to occur around August. He knew the economy was in a tailspin by December. He didn't act until early January with a desperate move. I want a Fed Chairman who leads, not follows. I'm surprised some senator didn't chew him up today. Much too cordial and kissy-kissy. They should have blasted him on his 50 point rate hike in May and what that was all about - to put a nail on the coffin on exuberance and the wealth effect. Now he's concerned about the stock market and its effect on the economy and the wealth effect. Now he's targeting the stock market, but last year he wasn't. Nonsense. He talks out of both sides of his mouth. All IMHO.

jmanvegas



To: John Lacelle who wrote (18431)2/13/2001 8:58:24 PM
From: RetiredNow  Respond to of 24042
 
Well, you can't blame the media. They aren't trained in economics so AG's words are beyond them. The problem I have with the media is that they used to report facts and leave interpretation up to the reader. Now they give opinions . Since they usually aren't trained in the material about which they report, they are invariably spreading misinformation with their opinions. That is what bothers me.


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