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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: wooden ships who wrote (5081)5/21/1998 5:35:00 PM
From: MrGreenJeans  Read Replies (2) of 42834
 
Federal Reserve Minutes of March 1998 Meeting

Below is a summary of the discussion that took place at the Federal Reserve Meeting in March:

bog.frb.fed.us

1. Please note they are still concerned about ebullient stock market valuations.

2. Also note they are concerned about the growth in M2 and M3 and have targeted M3 growth at 2 to 6% from the 4th quarter of 1997 to the fourth quarter of 1998. This would be a reduction from the roughly 10% growth in M3 that we have seen recently.

3. Further, as reported in the Wall Street Journal and reflected in this discussion is a bias towards raising rates.

4. If the federal reserve raises rates sometime this year the S and P 500 pe of approximately 23 will go to... (please fill in the blank).
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