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IS THE FED'S PAST A GOOD GUIDE TO ITS FUTURE? (int'l edition)There are many factors affecting the Fed's decision on a tighter or looser monetary policy (''A hike is way down the pike,'' Economic Trends, Aug. 10). Even when the Fed thinks it should go for austerity, circumstances may make it wiser not to raise rates. Are we supposed to blend in a probability factor when predicting interest rates movements? I find it hard to believe that an economist would base his interest-rates movement conclusion on ''the Greenspan record.''
Stanley Ngan
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Updated Sept. 10, 1998 by bwwebmaster
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