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Strategies & Market Trends : Guidance and Visibility

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Nov 24 3:59 PM EST

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To: 2MAR$ who wrote (92)	6/18/2001 1:41:41 PM
From: $Mogul	Read Replies (1) of 208838

Intra-Day Market Talk: Monday, June 18, 2001 1:08 PM FED TALK: Boston Fed President Minehan is "guardedly optimistic" about the prospect for an economic rebound in the second half, according to wire reports. She believes tax rebates could add 0.5 to 0.75 percentage points to GDP by boosting third-quarter spending but that a rebound in business spending could take time. Inflation is a long-term concern for the Fed and officials are not sure yet if they have lowered rates enough, she said, according to the wires. Richmond Fed President Broaddus, speaking earlier, noted that the real Fed Funds rate (the Fed Funds rate minus inflation) is near 1% which limits the Fed's "leeway" to cut rates. The speech isn't yet available on the Richmond Fed's website but appears to be largely a repeat of a June 5 speech Broaddus delivered to the Washington Association of Money Managers.

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