I was just going over some publications, cleaning up my desk. Any archaeologists out there want to join me? I found a copy of the CES ifo Forum Spring 2001 with a pessimistic article by Dudley -- the person Alex asked about. He says that the Goldman Sachs Financial Conditions index is tighter than before the Fed started tightening. "The Fed needs to get the dollar down and the stock market back up. To do this, they are going to have to ease monetary policy much more aggressively over the next six months. Put simply, the virtuous circle has turned vicious. It going to take time and monetary and fiscal accommodation to engineer a reversal of the current trend." -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
