NAM

[Doug Henwood]

I've long wondered why the National Association of Manufacturers 
never misses a chance to call for lower interest rates - but, at the 
same time, this position has so little resonance at the elite 
political level. It's not something you hear from, say, the Business 
Roundtable. I suspect it's that of the Association's 14,000 members, 
10,000 are "small and medium-sized." The easy money crowd has the 
numbers, but not the capital - so the trade association makes noise, 
but there's not much of an echo. If the Fortune 500 were seriously 
opposed to the drift of Fed policy, we'd hear a lot more about it 
than we do.

Curiously, there's not a mention of interest rates in NAM's 
pro-growth agenda 
<http://www.nam.org/tertiary.asp?TrackID=&CategoryID=419&DocumentID=20968>. 
Dereg, lower taxes, a weaker EPA, yes. Not a word about Alan G though.

Doug