To: Haim R. Branisteanu who wrote (16905 ) 10/31/1998 9:12:00 PM From: Zeev Hed Read Replies (3) | Respond to
Haim, for a change, I disagree with you. The only fault you can find in AG's recent actions is the timing. He timed the reduction in rates to avoid a break in the equity market. The rate the FED's have (both) are still quite high relative to the inflation rate (both trailing and forward). Thus, as I have said last year at this time, the FED left itself enough playing room to intervene with interest rates and have that intervention have the desired effect, namely, prevention of a melt down of the equities market. I do not view that as a crime, I view that as smart timing, which I would expect from AG and Rubin.
