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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Secret_Agent_Man who wrote (38352)12/18/2000 5:50:42 PM
From: Secret_Agent_Man  Read Replies (1) of 42787
 
The Wall Street Journal reported that there is support on
the Fed for at least a statement that the risk of recession is
now greater than the risk of inflation, and that there is a
possibility that the Fed could actually go ahead and cut
rates at Tuesday's meeting for the first time in more than
two years.

President-elect Bush's team has expressed mounting
concern about the state of the economy as well. Besides
interest rates, Bush said Sunday he'll talk about his tax cut
plans when he meets with Greenspan, who has said he'd
rather use the government surplus to reduce debt.

A rate cut Tuesday would come as a nice Christmas
surprise for markets, according to Greg Valliere, political
economist for Charles Schwab's Washington Research
Group. But he said weakness in a number of sectors
including autos and computers as well as the recent
declines in the stock market justify a cut at this time.

"I think Greenspan realizes that if he doesn't move
tomorrow, he may have to do 50 basis points at the end of
January, which could look panicky," Valliere told CNNfn's
Ahead of the Curve program Monday, referring to a
half-point cut in rates.

"I think many people are starting to worry that the Fed is
getting behind the curve. I think if the Fed shows
tomorrow they realize this economy needs stimulus, it
would be a wonderful gift for the stock market."
cnnfn.cnn.com
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