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To: stock bull who wrote (134486)	6/24/1999 8:45:00 PM
From: gc	Read Replies (1) \| Respond to of 176387

The market has ALREADY priced in 75 base points raise. WE will see a relief rally one way or the other.

To: stock bull who wrote (134486)	6/24/1999 10:51:00 PM
From: jim kelley	Respond to of 176387

I do not think that the FED will raise rates more than 25 basis points. Nor do I think that they will go into a series of tightening moves. Such moves are unjustified at this time. There is a lot of groundless fear in the air. That is why a relief rally is likely for next week. We do not have any significant inflation or deflation in the economy. The money supply is not being choked off as some people have said. The wage increases seem to be well offset by productivity increases. The Asian markets are resurgent and Europe should begin its recovery in September. US is doing great. Rate increases would inflict great damage on the Latin American and Eastern European economies. Regards, Jim Kelley