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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Electric who wrote (15800)	9/23/1998 5:32:00 PM
From: KM	Read Replies (1) of 42787

Here's one person's take on whether the cut will be next week: (From Street.com) "It's really a relief to see him make some of the statements he's made, particularly after the ambiguity we had to go through last week," said Hugh Johnson, chief investment officer at First Albany, referring to the chairman's appearance in the House of Representatives last Wednesday. "It's pretty clear the financial markets are sending signals to policy makers. What I have been worried about was that policy makers weren't getting the message. He's telling me they are getting the message." Johnson's relief was most emboldened by the chairman's use of "Street talk," including references to the slowdown of corporate stock and bond issuance in recent weeks. Also, the strategist said Greenspan was far more overt in forecasting the Fed's decision making than in the past. "He has more or less implied the Fed is not going to sit idly by," Johnson said, then quickly edited himself: "I shouldn't be that ambiguous. He told us the Fed will reduce short-term interest rates next Tuesday."

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