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Politics : Formerly About Applied Materials
AMAT 223.95+1.7%Nov 21 9:30 AM EST

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To: Skeeter Bug who wrote (23877)9/6/1998 10:54:00 PM
From: Ian@SI  Read Replies (1) of 70976
 
S.B.,

Mr Greenspan's precise words were:

"By the time of the Committee's August Meeting, the risks had become balanced, and the Committee will need to consider carefully the potential ramifications of ongoing developments since that meeting."

By the time of the Committee's August Meeting, the risks had become balanced

To me this is a clear indication that the Fed went to Neutral from a Tightening bias. Does it mean something different to you? If so, what?

...the Committee will need to consider carefully...

Very forceful and direct language which isn't typical Greenspeak.

... the potential ramifications of ongoing developments since that meeting.

The press on both coasts have interpreted this as indicating at least a possibility if not a probability of "loosening". If you have a different interpretation, what is it? and what causes you believe that?

Ian.

RE: ramsey, these bull clowns think greenspan was hinting at a rate decrese. no more than he was hinting at a rate increase. they see what they want, not what is there.
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