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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (7453)9/26/2002 2:05:55 PM
From: Sully-  Read Replies (1) of 89467
 
14:03 ET FOMC wanted to convey concern for economy : The FOMC minutes for the Aug 13 meeting did indeed indicate that policy makers were becoming more concerned about the prospects for the economy, as was indicated by their decision to shift to an easing bias. Interestingly, in discussing the possible need for future actions, the FOMC said that a rate cut could be prompted by "a further significant weakening in economic prospects--for example, that might be associated with additional deterioration in financial markets". This statement suggests that financial market weakness alone could be enough to prompt an easing.
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