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Technology Stocks : America On-Line (AOL)
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To: Tunica Albuginea who wrote (20129)6/4/1999 12:11:00 PM
From: Steeny  Read Replies (1) of 41369
 
I also don't see serious inflation long-term. The Fed has indicated that they see troubling signs. They count.
1.Core CPI(EXCLUDES ENERGY) was up much stronger than expected.

2. Unemployment is the same, but Asia is no longer on the brink, LTCM behind us. Wages grew slightly faster than expected. The internet is no doubt helping, but does the Fed buy this?

3. NAPM came out much stronger than expected, indicating that today's unemployment # will be revised upward.

4. The home sale #s and new home prices came out much greater than expected.

5. GDP seems to be growing fater than the yield curve, indicating inflation.I don't have the data in front of me, but I'll get it soon.

There are great reasons not to raise, but I just think the hawks want the 25 bps back. That might be the end of it. Perceptions that 25bps is not the end is causing the lack of conviction.
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