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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (72013)2/26/2001 4:58:34 PM
From: UnBelievable  Read Replies (3) of 436258
 
"The Odds Would Not Be High." Fed's McTeer On Interim Rate Cut

Fed's McTeer says Fed could cut rates more, if necessary

Futures World News - February 26, 2001 16:48

--McTeer: Fed prefers to set monetary policy at regular meetings
--McTeer: US economy could have contracted in Q1
--McTeer: "Questionable" whether economy has hit bottom
--McTeer sees potential for further stock market declines
--McTeer: Fed cannot base monetary policy on stock market
--McTeer: Inflation now should not be a priority for Fed policy

By Shihoko Goto,
Washington--Feb. 26--The Fed could cut interest rates further if the
economy needs more stimulus, Federal Reserve Bank of Dallas President
Robert McTeer said Monday. However, the Dallas Fed President added that
policy makers would prefer to adjust monetary policy at regularly
scheduled meetings.
* * *
"The Fed has already put 100 basis points of stimulus in the economy
in January, and that seemed to help a little bit; and I think we'll do
more if it appears that more is needed," McTeer said in an interview with
Nightly Business Report. A copy of the transcript, to be broadcast later
Monday, was obtained in advance.
Questioned about the possibility of easing rates before the next
Federal Open Market Committee meeting on March 20, McTeer suggested that
the odds would not be high.
"I think there is a preference to make monetary policy at regularly
scheduled meetings," he said. </B
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