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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (471)	8/24/2003 10:50:06 PM
From: que seria	Read Replies (1) \| Respond to of 110194

Re: Noland's comment that the Fed is committing (one more) huge mistake. They are playing this as Accommodating Nascent Recovery, when they should be Clamping Down on Late Stage Unruly Credit Boom. In the process, our central bank is bringing new meaning to the term “Behind the Curve.” The Credit market has much reason to worry. Way too late to "clamp down," IMO. The damage is largely done. I suspect the Fed knows far better than we do just how damaging a clampdown would be to the economic activity the gov't is constantly measuring, and businesses (and voters) judging. Austrians they're not, so no point in lamenting the path not taken. I see ongoing Fed accommodation being both business as usual for it, plus being a way of softening the harshness of the debt liquidation that will mark the end of this credit boom.