Anybody got the skinny on who's who in the NY Economic Club? [for full piece: http://www.nytimes.com/2001/04/20/business/20BOND.html April 20, 2001 Possible Plan to Keep Treasury Market Alive Is Floated By JONATHAN FUERBRINGER
Treasury Secretary Paul H. O'Neill said yesterday that it was possible that the government could seek to keep the Treasury market alive by issuing new debt even when it was no longer necessary and giving the proceeds back to the public as tax cuts.
He made his comments as Treasury prices fell sharply but stocks rose the day after the Federal Reserve unexpectedly cut short-term interest rates by half a percentage point. It was the fourth half-point cut since January. The Nasdaq composite index had its second consecutive gain of more than 100 points and has soared 33.2 percent from its low this year of 1,638.80 on April 4. That is the best 10-day run in Nasdaq history.
Mr. O'Neill spoke about the future of the Treasury market in answer to questions after a speech to the Economic Club of New York.