Note: Project BEST OFFER is intended to replace macroeconomics.

Subject: Best Offer
To: corp_dyn@iimetro.com.au
From: Brian.F.Madigan@frb.gov
Date: Thu, 16 Oct 2008 08:25:10 -0400

Dr. John P. Weldon
Corporate Dynamics
Canberra, Australian Capital Territory

Dear Dr. Weldon:

I am responding to your email of September 15, 2008, in which you proposed that the Federal Reserve obtain your product BEST OFFER.

Based on the material provided in your email, I have recommended that the Federal Reserve not pursue your product. As you may be aware, the Federal Reserve has a very large research staff of Ph.D. economists, statisticians, computer scientists, and other researchers. We rely on this staff to produce research, analysis, and specifically a wide range of macroeconomic models in support of formulation of monetary policy.

Thank you for writing,

Sincerely,
Brian F. Madigan
Director
Division of Monetary Affairs
Board of Governors of the Federal Reserve System

____________________________________________________________________

Subject: Project BEST OFFER
Date: Thu, 30 Oct 2008 13:07:04 –0400
From: "Brustein, Nate (JEC)" <Nate_Brustein@jec.senate.gov>
To: <corp_dyn@iimetro.com.au>
Dear Dr. Weldon,

Thank you for your correspondence. At the request of Colleen Healy, we have reviewed your materials and determined that they are not suitable for the Joint Economic Committee.

Yours,
Nate Brustein

Nate Brustein
Joint Economic Committee
Policy Analyst
nate_brustein@jec.senate.gov
202-224-9065