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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (367853)	1/22/2008 12:04:20 PM
From: tejek	Read Replies (1) \| Respond to of 1577593

First: Ben Bernanke has proven, once and for all, that juicing the stock market is now considered Job #1 for the Federal Reserve Bank. The material effects of rate cuts do not show up in economic growth statistics for months or even years after their enactment. By making an emergency "inter-meeting" cut a mere eight days before its regularly scheduled meeting, Bernanke is conducting economic policy in order to appease market psychology. The fragile psyches of Wall Street traders who played such a pivotal role in creating this mess by romping through the derivatives wonderland, are now in control of government strategy. That can't be good. Clearly, this author does not understand how serious the situation is. Wall Street is reacting to the chaos in the financial markets. One of the roles of the Fed is to insure that the financial markets are performing properly. Its a key aspect of managing the economy which is a central bank's primary role. I agree with one comment......the fed shouldn't have been reacting to the Street...it should have been LEADING the Street. God knows, the FOMC has enough info to know that things are in serious trouble.