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Strategies & Market Trends : NetCurrents NTCS
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To: Jerry Olson who wrote (4922)11/30/2000 9:47:04 PM
From: kha vu   of 8925
 
<<The market sold off steadily from there until with about 2 hours to go we hit trading halts in the SPZ0 and the Nasdaq futures contracts with the Nasdaq down 50 percent from the April high. Almost simultaneously, headlines reached the tape about comments from William Poole, president of the Federal Reserve Bank of St. Louis.
He basically said that he backed a Fed action if a stock market slide hits the economy. "I would want to respond if it looked like financial market events are feeding
in to affect the real economy in an adverse way." He did stress that this was his personal opinion and he couldn't speak for the Fed. He went on to note that the job of the central bank is to prevent market volatility from
spilling into the real economy. >>>
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