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To: Cynic 2005 who wrote (9540)	10/27/1998 2:15:00 PM
From: MythMan	Read Replies (3) of 86076

I particularly liked the comment about markets moving in the right direction. I assume he means up.. Cramer write his stuff? -s- >>Tuesday October 27, 1:49 pm Eastern Time Markets not yet settled after rate cut-Ferguson BOSTON, Oct 27 (Reuters) - Federal Reserve Gov. Roger Ferguson said on Tuesday it was too early to say that financial markets had settled down after the central bank's most recent rate cut almost two weeks ago, even though they were moving in the right direction. ''I think its fair to say the actions that we took a few weeks ago in terms of lowering the target discount rate seem to have provided some support for the market, but market conditions still seem to be not yet in a position where I would declare them stable or settled down,'' he told reporters after giving a speech to a University of Massachusetts conference. Ferguson added that the Fed should continue monitoring conditions in financial markets closely. ''It seems to be something that we should be monitoring on a day-to-day basis,'' he said. Asked whether he saw the danger of a recession in the U.S. economy next year, he replied: ''No I do not foresee a recession next year.''<<

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