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Alan Greenspan

March 30, 1997

* Alan Greenspan and the Federal Reserve Board clearly exceeded their legal mandate when they raised interest rates because they imagined inflation may reappear at some point in the future ("Fed Hikes Interest Rates Moderately to Deter Inflation," March 26).

If the Republicans really wanted to do something good for American families, they would depose Greenspan and the board and not accept any appointees from President Clinton unless those appointees agree to obey the law.

RUSTY AUSTIN

Culver City

* Explicit price controls have been opposed by a wide segment of the population for many years. Manipulation of interest rates by the Fed to keep inflation in check is nothing more than an implicit attempt to control prices. Is it the best approach?

PAUL DERGARABEDIAN

Mission Viejo

* What does oxymoronic mean? When conservative congressmen say we need a tax cut to accelerate the economy and the Federal Reserve says we need an interest rate increase to mute the economy. That is what oxymoronic means.

JOSEPH KAELLIS

Tarzana

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