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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

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Nov 24 4:00 PM EST

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To: HairBall who wrote (25195)	9/8/1999 1:35:00 PM
From: Susan G	Read Replies (1) of 99985

13:12 ET Fed Governor Meyer : Ready for another media hack job? It was just reported on CNBC that Meyer said that the Fed's neutral directive was a "work in progress," implying that the Fed might be shifting to a tightening directive. That is completely wrong. Meyer says that the Fed's strategy of announcing changes in the bias is a work in progress; he is clearly not referring to the current neutral directive. Meyer's speech was somewhat hawkish, but not anymore than is usual for him -- he has believed for the past few years that the current growth rate is unsustainable. He still believes that. No surprise there.

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