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To: Cynic 2005 who wrote (16660)	1/21/1999 2:41:00 PM
From: bill meehan	Read Replies (5) of 86076

<<The Fed will not ease at the drop of a hat (or an emerging economy). >> Interesting. What makes you think they won't. Usual suspect - like falling buck? That's part of the equation, but I don't believe (as a growing number of suspicious folks seem to) that the Fed really wants the market to continue to rocket. Q4 GDP is likely to be much stronger than most economists believe (what a shock--economists missing the forest and the trees), and I believe Mr. G is truly concerned about his legacy being as ruined as Bill's. The last 3 cuts were necessary to prevent a possible meltdown of the domestic financial system. I believe there was little choice in the matter and that the ensuing rally was (to the Fed) and unavoidable consequence. I guess I'm willing to give Mr. G the benefit of the doubt as to his motives. Gotta go--Joe B on TV (g). I wonder where he stands?

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