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To: Lizzie Tudor who wrote (49276)6/24/1999 1:54:00 PM
From: BGR  Read Replies (3) | Respond to of 86076
 
Michelle,

Excluding transportation effects, durable goods purchases were lower than expected. Nationwide, real estate prices are up at about 4-5%/year for the past 3-4 years. Things look different in pockets like NYC and the Silicon Valley. But, there is no rampant run off in inflation on a national level.

-BGR.



To: Lizzie Tudor who wrote (49276)6/24/1999 1:55:00 PM
From: BGR  Respond to of 86076
 
Hey!

Who authorized the bond rally!?



To: Lizzie Tudor who wrote (49276)6/24/1999 1:56:00 PM
From: Les H  Respond to of 86076
 
That is their prediction of how strong the economy is at present and how long it will take to rein it into a 2-3 percent growth rate. The Fed will act based on reports of economic activity. Nothing's baked in yet. Getting it over with probably won't do the job. If not for the Asia crisis, the Fed would've probably raised rates several times in 1997 instead of the one in March 1997 just before Thailand's collapse.