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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 240.87

+3.4%

Jan 6 3:59 PM EST

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To: craig crawford who wrote (114747)	1/8/2001 7:25:20 PM
From: allen menglin chen	of 164684

Fed on Alert for More Signs of Weakening Monday January 8, 2:51 pm Eastern Time MCALLEN, Texas (Reuters) - The Federal Reserve is on high alert for signs that the U.S. economy is weakening further, Dallas Fed President Robert McTeer said on Monday. McTeer spoke a few days after the Fed shocked financial markets by slashing the two key borrowing rates it controls by half a percentage point each. Economists said the Fed made the move because it saw a rising risk of recession. ``We are going to be very alert. We are going to be very alert, looking for any weakening,'' McTeer said, underscoring the possibility of further rate cuts. Wall Street expects another reduction in borrowing costs at the end of this month. Speaking to local business and political leaders in the town of McAllen on the Texas-Mexico border, McTeer said that although the economy felt weak in the last three months of 2000, he did not think it contracted. ``I doubt that the fourth quarter was a decline,'' he said. McTeer said the weakness in the economy appeared to be concentrated in manufacturing more than in other sectors.

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