Jude Wanniski
July 2, 2004


To: Ben.S.Bernanke@***.gov
: Re: sell-off
Cc: Jamie

At 8:11 am, 7/2/2004

Thanks Ben... It is encouraging to hear you are open to discussion.  I'll try to get to DC this month for a visit.   Jude

At 08:49 AM 7/2/2004, you wrote:



Jude:  If you would like to drop by the Fed I'd be happy to meet with you.

From: Jude Wanniski     <
To:      <Ben.S.Bernanke@* * * .GOV>                                              
Subject: sell-off   07/01/2004 06:52 PM                                                                                                       
Dear Ben....

The decline in the market today should be no surprise... the business universe has now been told it will have to expect slower growth with the increase in interest rates. Why take any chances on continued growth?

Equities decline on fears of slower growth.... Gold rises as the demand for liquidity declines. Are you so sure you are right Ben that you are unwilling to engage in quiet discussions with me and Jamie Galbraith?