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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (4177)	12/2/2001 6:10:45 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 23786

aei.org December 2001 Click here for an index of Economic Outlook. The Deflation Monster Still Lives By John H. Makin We are fast rediscovering an uncomfortable truth buried between the lines in the 384 pages of Keynes’s General Theory: Central banks cannot end recessions that they did not cause. After 450 basis points of rate cuts by the Federal Reserve so far this year, the Fed’s press release after the November 6 Open Market Committee meeting sounded almost apocalyptic: “Heightened uncertainty and concerns about a deterioration in business conditions both here and abroad are damping economic activity. For the foreseeable future . . . the risks are weighted mainly toward conditions that may generate economic weakness.” .......