On Sep 3, 2007, at 7:16 PM, Marvin Gandall wrote:
I don't see how its recent halting moves are directed at the working class, except in the sense it's waiting to see a more serious impact on the the real economy before it eases further, which is something less than an declaration of class war.
The halting moves themselves aren't directed at the working class, but the haltingness takes the w.c. in to consideration. That is, without the financial crisis, the Fed would be hanging tough, and not even the melodramas of recent weeks (which seem to be subsiding, at least for now) are enough to make them shake that toughness. Doug
