RE: Response Jude Wanniski April 22, 2005

                                                                                                                              
From: Jude Wanniski  <jwanniski@polyconomics.com        
To:      Ben.S.Bernanke@ * * * * *.GOV                                            
Subject: Re: Response
Bcc: Poly
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12:03 pm, 4/22/2005

Ben:

Here are my responses to your latest exchange. I'll have to get back to you on one of them, re a chart.  My responses to your boldface are in boldface italic.

Jude

Jude:   Thank you very much for your detailed response (and I didn't mean
to ruin your weekend!)   I am incredibly pressed for time right now,
effectively doing two jobs, and I need to take a brief hiatus on this
dialogue.  However, I did make a few replies to your response, just to
highlight the points where I am still having some problems.  My replies are
in bold in the attached document.  I hope that we can come back to this at
some point in the future.

Thanks for all the effort you put into your comments.

Ben