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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (19983)	9/5/1998 6:52:00 PM
From: James Strauss	Read Replies (4) of 50167

Ike: The FED should cut rates... But not because inflation concerns have eased... Rates need to be cut to lower the value of the dollar around the world, especially with an Eye towards Japan, Latin America and Russia... If rates are cut it will be more of a political decision than monetary decision... As for the timing of the rate cut, it's about four to six months too late... Worldwide economies are hurting... It normally takes six to nine months for a rate change to work its way through the economy... So, what we have here is an attempt to buoy the U.S. markets... Unfortunately, history shows that band aid fixes only have temporary effects on the markets... It's the health of the economy that really moves the market... With earnings projections being lowered in the coming Qtrs a recession seems likely and cannot be postponed indefinitely by artificial monetary manipulations... Any artificial bounce the market may make will make the inevitable fall that much harder... Jim

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