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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (9913)11/23/1999 8:57:00 AM
From: Wally Mastroly  Read Replies (1) of 15132
 
Justa, Brinker thinks their is about a zero chance of a FED hike at 21 Dec FOMC meeting.

...And I tend to agree... However, with apparent continued concern in the bond market on inflation, oil prices setting new highs every week, and the NAZ going ballistic. I'm starting to have second thoughts.

quote.bloomberg.com

The FED will probably add to the money supply with Y2K imminent.

But do we really know what the FED is "targeting"? If it's to preempt inflation that's one thing - and their 3 rate hikes might suffice for that (at least for now).

However, if they are targeting 'asset values', including stock market prices/valuations, than that is a horse of a different color. One could argue that they are targeting both.

You have previously pointed out that the last rate hike may also be about possible unsustainable growth (and if so, then they-will-be-back...unless there are strong signs of a slowing in process).

Of course, as you have already stated, The FED could 'restore' the alleged tightening bias as a way of very lightly tapping the stock market brakes. But this market has no fear!!!!!!!!!!!!!!!!!

But if it's really asset valuations that they are worried about, then perhaps Dr. Greenshades could still be the Grinch that stole the Christmas rally and slip the market a Mickey on 21 Dec...........

Any new thoughts on such speculation?
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