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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (92217)	9/16/2001 8:55:27 AM
From: Tommaso	Read Replies (2) \| Respond to of 132070

Everything is possible, but I think the Fed has to perceive a real crisis (1987, LTCM, Y2K, and now) before it deliberately does things to affect the stock market, and even then it's more to make things steady rather than to move the markets. Now that's just what I think, of course. Some economists whose views I greatly respect admire the Fed for having done this. I am more inclined to the view that using the stock markets as a guide to policy leads to financial overcontrol and makes things worse in the long run.