Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 225.18

-1.5%

3:59 PM EST

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To: John L. who wrote (24733)	9/30/1998 2:16:00 PM
From: Ian@SI	Read Replies (2) of 70976

John, You said, " ... the fed rate cut seems to have disappointed everybody. ..." I disagree. I believe Alan Greenspan got exactly what he wanted. First, he let the world markets know that the fed will ease its monetary policy going forward - score 1 for Alan in his Anti-Recession fight. Second, he "jawboned" the market into expecting a 50 basis point ease, then disappointed them sufficiently that the Dow is off nearly 3% today. Score 2 for Alan in his fight against asset price inflation. 2 weeks ago, nobody would have believed that the Fed could ease and send the market down. I believe Mr G. deserves significant credit for outsmarting the Street one more time. It's too easy for him though I suspect he's chuckling all the same. FWIW, Ian.

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