>
>
> At 6:38 PM -0400 4/8/00, Enrique Diaz-Alvarez wrote:
>
> >If Noland is right, and his argument does sound more persuasive, the Fed
> >has effectively lost control over the US financial system.
OK, that's a bit overstated. I'll say that the Fed is in the process of losing control. MMMFs account for a small but very fast growing 20% share of household "liquid" assets.
>
>
> Doug
-- Enrique Diaz-Alvarez Office # (607) 255 5034 Electrical Engineering Home # (607) 272 4808 112 Phillips Hall Fax # (607) 255 4565 Cornell University mailto:enrique at ee.cornell.edu Ithaca, NY 14853 http://peta.ee.cornell.edu/~enrique