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To: JDN who wrote (44878)9/2/2001 12:18:26 PM
From: Steve Lee  Read Replies (2) | Respond to of 64865
 
JDN, fantastic explanation here for why the fed should be increasing rates to reduce money supply right now, rather than cutting rates:

cornerstoneri.com

We were discussing this some time in August but this article puts it much more eloquently than I could. My favourite quote from the piece is:

"Investors complained he had gone too far with the interest rate increases. This is like kids complaining about their parents taking away all the loaded guns."