... or, as Martin Feldstein wrote in
today's WWJ:
"Fed action to lower interest rates cannot solve
the credit market problems, but it would help the economy;
by stimulating the demand for housing, autos and
other consumer durables; by encouraging a more competitive
dollar to stimulate increased net exports; by
raising share prices to increase both business investment and
consumer spending; and by freeing up spendable
cash for homeowners with adjustable-rate mortgages."
Jan Philipp
.