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To: frankw1900 who wrote (1530)10/31/2002 11:08:18 AM
From: zonder  Read Replies (1) of 6901
 
Re I say the fed isn't going to cut interest rates

I doubt we will see a 50 pt cut as the market seems to expect, but a 25 pt cut is possible. I agree with you re inflation but industrial figures are not good and consumer confidence has shriveled to what it should have been a year ago if not for these liars in the White House and CNBC going "We are not in recession" et cetera ad nauseam. My personal favourite was the dimwit analysts saying "1Q02 GDP up 5.6%, we are definitely out of the recession", which was quite funny, given the fact that ALMOST ALL of that growth was due to the government's defense spending that grew more than 20%.

Anyway, the Fed might feel compelled to lower interest rates to stimulate the economy given that the consumer, which, incidentally, was the only pillar of strength throughout the mess that was the year 2002, seems to be collapsing.
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