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Trying to Control the Economic Weather by Making the Economic Winds
by Richard P. Halverson
This article is a redrafting of an article I wrote eleven months ago. Basically all that has changed in that time is the direction of everything from the stock market to industrial production to the level of employment and, very importantly, FED policy. I try to illustrate the point of reversals by starting with the same article. I use strikethroughs to delete words and [brackets and italics] to add. Assuming the technique doesn’t drive you crazy I think you will find the juxtaposition between then and now interesting.
The Federal Reserve Board (FED) arguably has more power over the economy than any other single entity in captivity. The FED has power to set certain interest rates that influence all interest rates. These in turn influence the values of stocks, bonds, real estate, commodities and many











