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To: LLCF who wrote (95803)	4/18/2001 2:59:12 PM
From: GraceZ	Read Replies (1) \| Respond to of 436258

My point is that there is no solution that is better, that measurement is completely inexact. I'm actually in the hands off school. That the money supply should be periodically adjusted (say 2% per year) on an even basis without regard to measurement which is always subjective and inexact. The FED should stay out of interest rate targeting and out of trying to engineer prosperity with the money supply. The move today shows they have no interest in letting the market clear it's own excesses. This is the dumbest thing they've done in a while. I actually had some hope that they were going to allow the market and the economy to normalize. Bulls might applaud this move because they feel like they are getting bailed out of their sinking investments, but this is the worst thing for the bullish case. It will start up the inflationary spiral and there is nothing in the world that is worse for the bullish case than inflation.