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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (35037)	11/1/1998 6:32:00 PM
From: Tommaso	Respond to of 132070

Thanks for more information and sites. The Fed may be noticing the decline in oil prices and also the way that US farmers are (quietly) absorbing much punishment from diminished demand for American crops from Asian countries. Such patterns preceded the Great Depression. I agree that a stock crash need not mean a repeat--but I think the Fed keeps worrying about the larger economy and unintentially feeding the market bubble. I think that the decline from last July made the fed feel safe in cutting interest rates, and I bet they are amazed at the size of the bounce it produced. No end to irrational exuberance.