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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (6281)	6/19/2000 11:44:00 AM
From: James Strauss	of 13094

The Economy Is Slowing, Yet Analysts Are Advising Caution... ********************************************************** Things are looking pretty good for an end to rate hikes... Quite a few analysts are advising caution... Why? Maybe they want to cool things down until the FED acts next Tuesday, or maybe they are buying time for the institutions to accumulate on the cheap right up to the FED meeting... Whatever the reason, it seems fishy to me... I'm long, given this favorable turn of events... See the article below... Jim McDonough Sees Signs Of Slowdown By Rex Nutting, CBS.MarketWatch.com Last Update: 9:19 AM ET Jun 19, 2000 NewsWatch Latest headlines LONDON (CBS.MW) -- A key Federal Reserve policymaker sees signs that the U.S. economy is slowing. In brief comments to reporters after a banking conference in London, New York Fed President William McDonough said the economy is beginning to heel to the Fed?s desires, according to wire service reports. "The economy, according to data which came out in the last two weeks, looks as if it is beginning to slow," he said.** Fed targeting 4% sustainable growth McDonough said the Federal Reserve is trying to slow the economy to a sustainable 4 percent annual growth rate. McDonough is the vice chairman of the Federal Open Market Committee, the group within the Federal Reserve that controls monetary policy. His views are considered to be close to those of Chairman Alan Greenspan. Both McDonough and Greenspan have embraced the idea that the economy has entered a new era of greater productivity, while warning that inflation still remains a threat to stability. The FOMC meets on June 27 and 28. Most Fed watchers now expect the FOMC to hold off on further rate hikes at the meeting after six rate hikes in the past 12 months. See Fed Forecast. Fed policymakers typically refrain from making any comments on monetary policy in the week before and after a meeting, so McDonough?s comments will likely be the final words to be heard before the meeting. Greenspan is scheduled to testify on commodity markets at a congressional hearing on Wednesday. See Washington Calendar

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