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

To: Skeeter Bug who wrote (43463)1/15/1999 12:01:00 PM
From: Tommaso  Read Replies (2) | Respond to of 132070
 
Yes, they are actually printing 50 billion in notes in case people panic over Y2K. Looks like they (the Fed) have panicked.

Their belief is that people will soon redeposit all this cash, if they in fact hoard it to start with, and that it won't really affect the purchasing power. Indeed, to the extent that people buried it in mason jars in the back yard, it would be deflationary. The banks would have fewer deposits against which to extend loans.


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