Have to do a turnaround from the post yesterday regarding the Fed's action. I've just had a lengthy discussion with my brother who disagreed vehemently with what I said in the post. He felt the decision both necessary and substantially supported by any and all relevant data. Upon further review, mostly facilitated by his rambling off of the data used by the Fed and the dire outlook of said data, I have to say the decision made tremendous sense.

However, I then went on to belly-ache that I hadn't been given all the info to make an informed decision. He said, go to the report. I countered that my belly-ache was not that I felt the Fed's statement incomplete, but rather the CNN reporting of that decision left something to be desired. I felt that if a popular (not financial) new source was going to report on every move the Fed makes (as they've done over the past few years) it is their responsibility to provide the popular reader with a greater depth of information in their stories than just saying "Fed Shockingly Slashes Interest Rates!!!" Rob countered that the article had not only precisely, but exhaustively done just that. Using the link on my previous post, I returned to the story and found that he was correct.

I also found that the CNN story had been updated 3 hours after my post.

Two things I like about this. One. Having done a complete turnaround on both the Fed and the CNN issues, I find the blogger to be a facinating way to follow the emotions of myself as I react to certain issues as they're reported. Then, as I get more information, I tweak or (in this case) totally reverse my initial thinking. Second. I must commend CNN and their web service. More than any of the major papers or other web news sources, they've made a consistent effort to provide exceptional web based news reporting with both links to other news sources and their own subsequent features on many issues. Tremendous praise for their web work on both this story and their handling of the election court battles. In a class all their own right now.
- posted by levinson @ 1/04/2001 09:20:00 AM