[FoRK] Fed Makes Emergency 0.75% Rate Cut

[J. Andrew Rogers]

On Jan 22, 2008, at 4:28 PM, Sat N wrote:
> Does anyone else find it disturbing that both the Fed and President
> use just the stock market performance solely as an index of economic
> performance?.


Well, that and the idea that either the Fed or the President is  
responsible for the strength of the economy.  If there is a problem  
with the economy, the blame rests largely with Congress since the  
policies that will actually make the economy weaker or stronger are  
under their purview.

I always found it odd to blame a President for an economy -- for good  
or bad -- when it is almost entirely Congress that has control over  
these things to the extent that the government has control over the  
direction of the economy at all.


Cheers,

J. Andrew Rogers