[CanisMajor2002]

Far more important than short-term swings in money measures like MZM is the recent and honest statement by Treasury Secretary John Snow that rising economic growth will bring higher interest rates during the next year or two. Not only did he seize the political high ground by linking an expected interest-rate rise to stronger capital formation — rather than budget deficits — he is also signalling acceptance of a stable or even stronger U.S. dollar as part of economic recovery.

So why is the Bush admin panicking and rushing to dispel his comments? *mutter*

[OldFriend]

Because the media mischaracterized Snow's comments. When you read his entire statement you see that he did not CALL for higher interest rates. He said the natural progression would lead to higher rates. (my paraphrase)