Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (18946)	6/30/1999 2:31:00 PM
From: Stephen	Read Replies (1) \| Respond to of 99985

Well ... this is no time to be short(GG) ... the TA's going to look interesting tonight !!!. Good luck all Stephen

To: Benkea who wrote (18946)	6/30/1999 2:35:00 PM
From: Michael Watkins	Read Replies (2) \| Respond to of 99985

By Bridge News Washington --Jun 30-- Following is the full text of the statement issued today by the Federal Reserve following the conclusion of today's Federal Open Market Committee meeting: The Federal Open Market Committee today voted to raise its target for the Federal Funds rate 25 basis points to 5 percent. Last fall the committee reduced interest rates to counter a significant seizing up of financial markets in the US. Since then much of the financial strain has eased, foreign economies have firmed, and economic activity in the US has moved forward at a brisk pace. Accordingly, the full degree of adjustment is judged no longer necessary. Labor markets have continued to tighten over recent quarters, but strengthening productivity growth has contained inflationary pressures. Owing to the uncertain resolution of the balance of conflicting forces in the economy going forward, the FOMC has chosen to adopt a directive that includes no predilection about near term policy action. The committee nonetheless recognizes that in the current dynamic environment, it must be especially alert to the emergence, or potential emergence, of inflationary forces that could undermine economic growth. Highlighting is mine. What this means, to me, is that - They didn't need to turn the market upside down world wide - new economic data will continue to act on the market (like the PMI) - They have re-indicated a willingness to be proactive. They will not wait for inflation to be obvious. Will be interesting to see what happens on Thursday's news releases.