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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 5 4:00 PM EST

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To: Haim R. Branisteanu who wrote (67813)	1/27/2001 11:11:27 PM
From: Haim R. Branisteanu	Read Replies (1) of 99985

Interesting Statement will the senile AG follow? On the U.S. economy, Fischer said the Federal Reserve could cut interest rates by up to five full points without stoking inflationary pressure. "Not that I think that will be necessary," he said. Its Fed funds rate on overnight lending stands at 6.0 percent after a half-point cut on January 3, and the Fed is widely expected to cut rates a further half-point at its meeting on January 30-31. "The aggressive action by the Fed earlier this month was extremely welcome and one of the main reasons to believe that the turnaround will come reasonably soon and that the slowdown will be more v-shaped than anything else," Fischer said. Fischer stopped short of urging the European Central Bank to cut interest rates, saying that despite a slowdown in European growth during the second half of 2000, its economic position looked "pretty strong." weforum.org

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