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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Robert Douglas who wrote (2808)	1/3/2001 2:23:24 PM
From: Robert Douglas	Read Replies (1) of 3536

As everyone probably knows already, the Fed cut rates half a point. Unless the market goes on a tear, I expect they will cut again at the upcoming meeting. I listened to Wayne Angell this morning. He hit upon what I have been harping on this thread, that the real Fed funds rate is too high. He deflates the FF rate by the spread between 10 year Treasuries and 10 year TIPS and concludes that the real FF rate is about 5% - higher than in late 1998. He also feels that easing monetary policy will quickly result in a pick up in the economy.

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