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To: NickSE who wrote (58141)	8/24/1999 7:48:00 PM
From: NickSE	Read Replies (1) \| Respond to of 86076

NEW YORK, Aug 24 (Reuters) - U.S. corporate borrowings are expected to continue at a torrid pace through the third quarter despite the U.S. Federal Reserve's decision to raise key interest rates on Tuesday, market players said. ''Right now, the expectation is that September is going to return with a vengeance in terms of the supply calendar,'' said Gary Zeltzer, an investment-grade portfolio manager at J W Seligman & Co. Inc. biz.yahoo.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ WASHINGTON, Aug 24 (Reuters) - Federal Reserve policymakers struck a decidedly more optimistic tone about inflation prospects on Tuesday as they announced interest-rate increases while still retaining room for more if needed, analysts said. In a statement announcing quarter percentage point rises in two key interest rates -- federal funds and the discount rate -- the U.S. central bank said the action should ''markedly diminish the risk of rising inflation going forward.'' That was different from June 30, after the preceding meeting of the policysetting Federal Open Market Committee, when the Fed said it would be ''especially alert'' for signs of inflation. ''It's less threatening than was the case in June. It's just got a less ominous tone to it,'' said Robert Dederick, economic consultant to Northern Trust Co. in Chicago. Analysts said Tuesday's statement signaled the possibility that wages and prices would remain muted instead of concern that they might be on the verge of running away. ''This is really a fairly optimistic statement where the last statement was sprinkled with warnings about the risk from inflation,'' said economist Sung Won Sohn of Wells Fargo Bank in Minneapolis, Minn. ''The tone is fairly clear, in that they're hoping this will be the last hike in interest rates and that economic growth will slow and moderate,'' Sohn said. He said it also was ''much less confusing than the last statement.'' biz.yahoo.com