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Strategies & Market Trends : Drillbits & Bottlerockets
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To: Peach who wrote (2137)1/29/2001 2:54:46 PM
From: John Pitera  Read Replies (1) of 15481
 
HI Norma, When the FED cut rates earlier in the month, they cut the FED Funds rate one day and had to
wait until the next day before they could lower the discount rate, It was said to be procedural in nature, and that
both the cuts could not come on the same day.

Since this week's meeting is planned, the expedited part may enable both cuts to be made on Wed.

I'm guessing here a bit, but I'll let you know if I get more info on it.

John
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