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Strategies & Market Trends : The Amateur Traders Corner

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To: Tom Hua who wrote (11112)	6/25/2001 1:06:55 PM
From: $Mogul	Read Replies (1) of 19633

FED TALK: Bear Stearns is said to have joined the growing ranks of those predicting a 50 basis point rate cut (rather than 25 bps) by the Fed this week. Goldman Sachs similarly revised their call on Friday and several other firms did the same last week. Bear Stearns economists wrote in a research report last week that the 0.8% drop in May industrial production "has put a 50 basis point rate cut back on the map of high probability outcomes" while the May inflation data "provide no obstacle to another aggressive rate cut." They also predicted the Fed Funds target will likely fall to 3.25% from the current 4% level before the Fed is done, so today's switch to 50 bps is not a major change of heart

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