Double Bubble Trouble

Doug Henwood dhenwood at
Thu Nov 4 17:22:17 PST 1999

Dennis R Redmond wrote:

>This isn't likely to slow down
>the EU much, since EU inflation plus real growth is around 4.5% (meaning,
>monetary policy is fairly easy), but things could get very, *very* ugly on
>Wall Street over the next few weeks.

The Washington Post's John Berry, a regular recipient of leaks from Greenspan, had a piece in today's paper < m> saying that the Fed is unlikely to raise rates for the rest of the year. Greenspan gave a pretty enthusiastic New Economy speech last week, though larded with his usual qualifications towards the end. So the question is whether higher euro rates will force the Fed's hand.


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