On 04 Jan 2008 22:29:03 +0000, Prof. P. Arestis wrote:
> Dear Warren,
> Many thanks.
> This is all interesting. The sentence that caught my eye is this: “A fiscal

> package is being discussed to day by Bernanke, Paulson, and Bush. That

> would also reduce the odds of a Fed cut”. This would indeed reduce the odds
> of a rate cut. But would Bernanke accept such a proposition when he
> believes passionately that crowding-out in fiscl policy is very much the
> order of the fiscal day? I am curious to see the result of this discussion.

Dear Philip,

Very good point!


> Best wishes,
> Philip


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