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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (1029)	2/14/2001 3:28:30 PM
From: ahhaha	Read Replies (2) \| Respond to of 24758

NASHVILLE, Tenn., Feb 14 (Reuters) - The rate-setting Federal Open Market Committee does not regard inflation as a significant danger in the coming year, U.S. Federal Reserve Vice Chairman Roger Ferguson said on Wednesday. So who is it that determines the cost of money? The free market or "The rate-setting Federal Open Market Committee". Ferguson tells his students that a free market is the only way that the proper price of anything can be established. That makes him a hypocrite. You shouldn't be in a position where you are vulnerable to hypocrites. "The FOMC does not see inflation as a major risk in 2001," Ferguson told students at Vanderbilt University's graduate business school. Is that why the FOMC did a $4.5 billion matched sale today when fed funds were at target of 5 1/2%? I guess it was just a sopping up operation of the excesses of the previous days. If inflation isn't a major risk, then they should not be concerned about withdrawing contingent reserves. Maybe he and they only mean that inflation is a minor risk. They can't afford even a minor risk because now they are trying to engineer or prop up a waning prosperity.