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To: ahhaha who wrote (34681)	5/30/1999 4:09:00 PM
From: baystock	Read Replies (2) \| Respond to of 116769

<<When they err on the side of promotion, when the increment of money added is greater than the increment of output added, prices must rise. You can't expect to get something for nothing. The FED doesn't know that they have crossed over to the regime of false promotion. The market suspects it has as represented by the price action in Treasuries>> I would think the FED knows a lot more than we give them credit for. It looked like last fall we came close to some kind of deflationary implosion. Maybe they are inflating because that is the least worse alternative.

To: ahhaha who wrote (34681)	5/30/1999 6:12:00 PM
From: Edmund Lee	Respond to of 116769

US foreign currency reserve I believe that US do hold foreign currency as reserve as most other country did. From what I heard the reserve are depleting fast due to trade deficit. Do anyone know where to get this numbers?

To: ahhaha who wrote (34681)	5/31/1999 11:52:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116769

<<Lag is accumulating and FED has indicated that they may have to cool reserve creation accordingly. When is indefinite. It depends on the choices of individuals. Will many go out on strike for higher wages? Already there is upward pressure on costs from past settlements which do a good job of hiding costs. When core CPI rises due to absorption of rising wages for three months in a row, fed funds will be allowed to rise. That is at least six months from now. During the interim FED will continue to pump.>> Truth is, they are pumping up cash portion of M-1 very hard due to Y2k. They will try to talk things one way and do them the other, Understanding they will have to drop M-2 to make up for greater M-1 so as to keep the whole close to "right".