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To: Scumbria who wrote (129865)	3/13/2001 6:15:46 PM
From: Road Walker	Read Replies (2) \| Respond to of 186894

Scumbria, re: "Why should the Fed interfere?" That was my argument, the FOMC didn't interfere. The market was raising short term interest rates, because it saw inflation in the high growth, capacity shortage situation. The bond traders said, "Geez, if we continue on this growth track, prices are going up, we need to give folks higher yields to keep bonds attractive", because the buying power of money will decline. The FOMC is watching the bonds, and has to react, beside they have the same concerns. Remember the inverted yield curve last spring, I'll never ignore that again. The FOMC was reacting. John