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Strategies & Market Trends : The Stock Market Bubble

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To: Terry Whitman who wrote (2603)	2/2/1999 2:08:00 AM
From: Kailash	of 3339

"The FOMC is holding a two-day session instead of its usual one-day gathering so members can map out economic forecasts to be included in Fed Chairman Alan Greenspan's semi-annual "Humphrey-Hawkins" testimony to Congress later this month. Any decision on interest rates would be expected around 2:15 p.m. EST (1915 GMT) on Wednesday. A Reuters survey of economists at 28 primary dealers -- firms that trade fixed-income securities with the Fed -- showed the dealers unanimously expected the Fed to keep federal funds rate for overnight bank lending steady at 4.75 percent. The discount rate for loans from the Fed to member banks, now at 4.50 percent, was also expected to be left untouched." biz.yahoo.com I tend to agree with those who say a rate hike is unlikely on Wednesday; if Greenspan wanted to take the air out of the markets, he's just had a couple of chances to do that which he passed up. It would certainly cause a jolt - do it, Greenspan! Show them you're in charge! (cf. nypostonline.com Guess not. Kailash

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