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

To: accountclosed who wrote (46616)	2/11/1999 3:55:00 PM
From: yard_man	Read Replies (4) \| Respond to of 132070

That article now has more: >>Cleveland Fed President Jerry Jordan dissented a record five times last year in favor of tighter monetary policy out of concern for rapid credit creation and money supply growth. The Fed eased credit three times last fall to cushion the economy against the possible fallout from the global financial crisis and U.S. capital markets turmoil. Jordan is not a voting member of the Federal Open Market Committee (FOMC) this year. Sniderman also warned against conducting monetary policy for the short-term horizon only or in response to temporary economic disruptions. ''Attempts to smooth out all fluctuations might cause further instability,'' Sniderman cautioned in his commentary.<<