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Politics : Formerly About Applied Materials

AMAT 319.48

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11:54 AM EST

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To: Gottfried who wrote (65017)	7/24/2002 8:05:58 AM
From: michael97123	of 70976

Posted by: federal reserves Ihub In reply to: None Date:7/24/2002 8:04:10 AM Post #of 7350 Fed Alert. NEW YORK (Dow Jones)--A weak banking sector could affect Federal Reserve monetary policy, said Stan Jonas, managing director at Fimat USA. "A weak banking sector becomes a political problem for the Fed," Jonas said in a CNBC interview Tuesday. Jonas said weak banks would not be able to implement monetary policy and may encourage the Fed to ease interest rates. The banking sector was hit in the stock market Tuesday amid implications that J.P. Morgan Chase & Co. (JPM) and Citigroup Inc. (C) helped mislead investors about the true financial state of Enron Corp. (ENRNQ). -By Andrew Gelfand, Dow Jones Newswires; 201-938-2007 (END) DOW JONES NEWS 07-23-02 "Is the catalyst to end this decline on the horizon? "

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