To: Frank Ellis Morris who wrote (23799 ) 6/16/1999 9:49:00 AM From: Sonny McWilliams Respond to
Good morning Frank. Well, the CPI is in. 0.1. Expectation was for 0.2. CNBC is calling this flat. I call it down 50% gg. The bond market has been reacting by going up 3/4. I guess still worried a bit that the Fed may raise. I said over and over again that I don't see it but I don't get big bucks to do the call. Productivity is up again. I still don't see this inflation scare. I don't think the FED should raise but if they do they probably will do only 25 basis point. Those hawks are way off track. I guess Rubin, Rivlin etc., who were on the DOVE side, got out in time. Maybe now the rest of those FED's see the light. Jawboning the market, for who knows what kind of reasons, should stop IMO. Sure hope that Greenspan will stay muted tomorrow. Would be great. This COULD be stuff is for the birds. Businesses don't run on could be or should be, they try to run on knowledge. Or at least you would think they do. gg. And it's the small business guy that gives us most the good life lately. Those are the ones that do most of the hiring and I heard that they will cut back all over the place. Anyhow, Greenspan has something to hang his hat on now. NO, NO, NO inflation as far as I can see. Maybe I am short sighted.
