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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (54132)	4/1/1999 10:08:00 AM
From: Kailash	Read Replies (1) of 132070

Ah, finally someone managed to pound some sense into MB's head! <g> I hope you're still up to some old-style thinking while the day is young - what if any is the significance of this note of anxiety: NEW YORK, April 1 (Reuters) - The Federal Reserve is expected to add reserves to the banking system Thursday via multi-day repurchase agreements, perhaps accompanied by an overnight operation, economists said. James Blumenthal, a senior market analyst at MCM MoneyWatch, said he expects an overnight operation combined with four-day or seven-day RPs. ''They definitely need to do something, and I think they will try to be aggressive and get this funds rate back down,'' Blumenthal said. Federal funds were trading at 5-3/8 percent, above the Fed's 4-3/4 percent target.

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