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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: CYBERKEN who wrote (286396)	8/13/2002 5:22:43 PM
From: Steve Dietrich	Read Replies (2) \| Respond to of 769670

That's just wrong. Nobody expected a cut, just a change in bias leading to future cuts. And that's exactly what we got. The Fed almost always does exactly what it's expected to do. The market often drops after Fed meetings, and today was no different. Especially considering the Fed's change in outlook contradicts the administration's outlook. Once again events showed Bush to be impotent and irrelevant when it comes to the market. Since most of us would agree that Bush doesn't have much effect on the day to day fluctuations of the market, why does he keep setting himself up to fail like this? It makes him look bad personally, it's bad politically, and it can only serve to further undermine public confidence in the markets as they see their President powerless to do anything. Steve