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Some Unpleasant Monetarist Arithmetic (guest: Jim Leitner)

The Market Huddle

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Is There Really a Fed Put?

I don't think central banks ought to be nimble. They should have a policy framework, and within that framework, try to address the problems that they're trying to address,. right now is inflation. You know, if you look at their web site, every one % drop in the stock market is worth five basis points on t f c i. So just to get the f c i back to a hundred from here, if if you left all the rates exactly where they are, you could drop the stock market by another 18%. Just guess you get it fis to get it to par, just to get geoman sacks apar. I mean, there's clearly a put some

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