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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (11676)	2/24/2001 12:14:02 PM
From: Mike M	Respond to of 30051

I think history will consider AG a mixed bag. He kept the market liquid as the Y2K non event passed and tried to jawbone the market down. I don't have a problem with one or two token raises in 2001, but the FED did get carried away and then took too long to recognize that the economy was in trouble. Surely AG knew that by the time the numbers reflected a cooling of the economy it would be dangerously close to the precipice. Now such events as dollar weakness will wreak additional havoc on our markets. I think AG's growth target is too restrictive...He seems comfortable with 2% growth while many (including myself)feel that 3% would be a more reasonable target as long as the demographics will allow it... When AG steps down the bond market will likely voice disapproval but I don't see much more than a one day reaction from the stock market...