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To: Windseye who wrote (90462)	3/22/2001 8:17:57 PM
From: Captain Jack	Respond to of 97611

Doug-- He KNOWS what needs done. Now to see if he can keep politics, ego, and senility out of his decisions! Slowly raising the rate would have done what was needed, raising as fast as he did could have seen the same effect if he had not gone way overboard. The only 'soft landing' is in his mind just as the inflation he was fighting only existed in his mind. I disagree with your assessment of his last drop. 1/2 was all he could do but the mkts were telling him he owes them for his previous errors.