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To: xstuckey who wrote (86165)	7/27/1999 8:46:00 AM
From: John F. Dowd	Read Replies (1) \| Respond to of 186894

xstuckey: As we approach the end of the year the media will play up the real and mostly imagined problems connected with Y2K so people will take more cash out of the banks and stockpile food and toilet paper. This will require greater liquidity be injected into the system. To finance this government will have to borrow short term (presuming all goes well when the clock strikes 12 on yr 2000) - I am sure the government does not want to pay anymore in interest than they have to for this borrowing. Additionally if they spook the markets and add the fear of y2k to the market scene they could cause major problems. The Fed should be doing all they can to boost confidence in the US markets. JFD