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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (43496)3/11/2001 6:40:25 PM
From: Jerome  Respond to of 70976
 
The power of the Federal Reserve is very much overstated.

If the Federal Reserve had the power to turn recessions or depressions on or off at will, then why didn't they do so in the past?

It could be that this power is implied, but the reality of the matter is the Fed's actions are frequently too little too late. About two years after the Fed makes a move we can see the consequences and then state how effective (or ineffective it was).

Jerome


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