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Technology Stocks : America On-Line (AOL)

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To: D.J.Smyth who wrote (19420)6/1/1999 12:42:00 PM
From: Steeny  Read Replies (4) of 41369
 
Mar & April exisiting home sales jumped to all time highs. APr-5240, Mar-5420
Home prices are at extremely high levels, though it is true the actual prices of real estate are mixed across the board(underperforming SP) Sales prices up about 10% from 1 year ago.

It has been well established that the FED moved from a pre-emptive policy to a reactionary stand after they cut in NOV(their last move). Greenspan made this very clear during his Hawkins testimony at that time. He spoke mainly of the Asian crisis. The Fed has moved their focus away from Asia and toward the domestic economy. It is true that Asia has stalled.

This morning, NY Fed President Mcdonough(a voter) said that April's CPI was NOT an aberration. He said this at about 9:45am. Don't have a link. It came across Bloomberg.

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