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To: Larry S. who wrote (30102)	3/19/2001 9:16:36 AM
From: Kelvin Taylor	Respond to of 53068

Larry, I have read Bill Gross before. Sometimes he is right on sometimes not. But the fact is I have read far more opinions(Larry Kudlow and Walter Williams two well-respected economists) who say differ. Look at this: The economic slowdown was a direct result of the FED monetary policy. Businesses have slowed due to a reduction in cap spending. Looking back now the manufacturing sector was in a slow down last year while the FED was raising rates. And keep in mind any interest rate change takes a good 6-12 months to have a measurable effect. Remember the FED started raising rates last spring. And one year later we see the full impact. AG knows better. IF they had only raised and waited say 3-4 months before doing another rate cut this could have very well been avoided. Here is another quote from that same article: Which brings us back to the Fed and Saint Alan and their inexorable quest to lower interest rates to prevent just such an outcome. Too late, I would claim, and mostly beyond their control. Why has the FED been so aggressive with rate cuts now? They see the mistake and are trying desperately to undo the damage. And as Mr. Gross points out "Too late