Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: steve susko who wrote (45589)	1/14/2000 6:15:00 PM
From: Mike M2	Read Replies (1) of 94695

Steve, thus far AG is all talk no action. He spoke of irrational exuberance in Nov 96 but did not back up his talk. His track record is to meet all financial trouble with liquidity. If a hedge fund gets in trouble then we can count on rate cuts and an extra kicker cut right before options expirations. Even rate hikes are coupled with monetary inflation via coupon passes and repos. He has proven, thus far that the financial markets come first at the expense of the long term health of the US economy. IMO no way do we get a 50 bp rate hike - it is all Wall St talk to engineer a stock market rally when the Fed hikes 25 bp. i would like to see a 50 bp rate hike coupled with a reduction in the Y2K reserves but i don't expect it. mike

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