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

To: w0z who wrote (45532)	4/18/2001 1:51:03 PM
From: michael97123	Read Replies (1) \| Respond to of 70976

AG might be late to the party but at last he has arrived. Let's be kind today--his job is an art not a science. At least he is adaptable. A year from today, when we are getting nervous about 2.8% inflation, we should remember what the conditions were on the ground at the time AG moved. He is responding to Chambers today. Chambers gave him the proof he needed and AG decided the economy needed another jolt even though Intel numbers appear to be improving. Better to err on the side of caution and by being bold today that is what AG risks. Hell, he erred on the wrong side last year. 1 out of 2 aint bad.

To: w0z who wrote (45532)	4/18/2001 1:53:18 PM
From: Ian@SI	Read Replies (2) \| Respond to of 70976

Bill, I wish I could argue with your observations. However, I couldn't understand the need for 7 increases in the fed funds rate given: 1. Fragile global economy which was recovering from the Asian flu 2. Relatively low Capacity Utilization throughout the tightening period. Regardless of the pain that we feel is attributed to the fed, his tenure there has seen a period of unprecedented prosperity. And even today, there's no certainty that the overall economy has gone or will go into recession. So history may still regard him as a near God. As long as it isn't written by those who were overweight in high tech. :-( Ian.