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To: Thomas M. who wrote (22009)	5/14/1998 2:24:00 PM
From: mc	Read Replies (1) \| Respond to of 95453

But he's (Greenspan) been smart enough to realize what is going on and keep his hands off the trigger for the most part. Restraint in exerting your authority is often times a much greater sign of skill than actual use of it. As far as your concern about the money supply goes, you could be right. We could reaching a point where there is too much money out there. However, with interest rates in most of Europe on the decline and ours in the U.S. being so low, as are Japan's, the only way to stem the tide of increasing supply is to raise rates. It comes back to that age old economics question: What is the best interest rate to optimize REAL growth? Until inflation starts to perk up (and the next 9-18 months will be very telling in that regard) why not let the money supply continue to grow? Good luck, Gary