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Politics : Formerly About Applied Materials
AMAT 260.77+0.2%Dec 24 12:59 PM EST
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To: michael97123 who wrote (42871)3/1/2001 2:37:28 PM
From: Jerome  Read Replies (2) of 70976
 
Dont quite understand what harm an intermeeting cut would have done

It would have done a lot of harm. It would appear that the Fed is in a panic mode with the economy. It might have implied that the Fed is concerned about the stock market. In the market we would have gotten a one or two day rally and the pundits would come back and say, "the economy is in worse shape than we thought, because two unscheduled rate cuts were required"

IMO, neither the economy nor the Fed should turn on the dime of public opinion.

Jerome
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