A Computer Would Do Better Than The Fed_NYT_4-7-2004

A Computer Would Do Better Than The Fed_NYT_4-7-2004 - The...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
NYTimes: Home - Site Index - Archive - Help Welcome, arisp - Memb Go to a Section Site Search: This page is print-ready, and this article will remain available for 90 days. Instructions for Saving | About this Service | Purchase History By T. J. RODGERS (NYT) 665 words Published: April 7, 2001 The Federal Reserve's power to stave off economic decline is now under attack by those who were certain of the Fed's vaunted magic just months ago. The economy here in Silicon Valley is a train wreck. And some of our suffering may be attributed to the ill-timed discount rate hikes in 2000 that the Fed is now desperately trying to reverse. To be fair, no one -- not even here in Silicon Valley -- would have predicted that the dot-com crash would have spread so quickly to Internet infrastructure builders and to the technology sector in general. What the Fed did not know was that the economy it was trying to slow down was about to come to an abrupt halt on its own. And that's the point: There is a fundamental flaw in the Fed's operational assumption that it can know enough about the future to fine-tune the economy without continually
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/02/2010 for the course BUAD 350 taught by Professor Safarzadeh during the Spring '07 term at USC.

Page1 / 2

A Computer Would Do Better Than The Fed_NYT_4-7-2004 - The...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online