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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Boplicity who wrote (25281)12/15/2000 11:17:01 AM
From: Jim Willie CB  Read Replies (2) of 65232
 
James Glassman of Chase Securities on beneficient conspiracy theory

(ME: next loony bullish pathology is that Greenspan cuts rates next week... dont hold your breath)

As his official forecast, Glassman projects the same thing everybody else does: friendly rhetoric but no rate move. But he's piecing together something of a conspiracy theory about a possible interest-rate cut.

It goes something like this: A new administration prepares to take over Washington, and tax cuts are on the agenda. The economy clearly has slowed, the vice president-elect talks about the chance of recession, and Democratic legislators start to think lower taxes would play well on the home front. Worried Congress will try to manage the economy through fiscal policy, the Fed preemptively cuts rates to assert its control.

-end-
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