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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (89772)	4/4/2001 11:06:06 AM
From: LLCF	Read Replies (1) \| Respond to of 436258

<The Federal Reserve itself now admits that interest rate cuts lagged the contraction in money, credit and prices.> I know... as they always do... like now. <Further, it admits that it did nothing to offset the reduction in currency caused by bank runs. > Yes, thought I implied that. <The major weapon the Fed uses to affect the money supply isn't interest rates, it's open market operations. They also raise or lower reserve requirements, and they also engage in foreign exchange.> Yes, probably the REAL blunder was the tarrifs backed up by currency operations. DAK