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To: Frank Ellis Morris who wrote (24270)	8/24/1999 2:38:00 PM
From: Sonny McWilliams	Read Replies (2) \| Respond to of 27012

Hello Frank. Well, the excess happened. The FED also raised the discount rate by 1/4. The DOW went down orig. over 50 points but seems to be coming back. The 30 year bond is up. I guess I am with the minority. Raising the reg. rate at this time IMO was not necessary but raising even the discount rate, um, um. I certainly would like to know how this meeting went and who really were the hawks. That's why I feel that those meetings should be open to the public. Where is the democracy here? Looks like those guys at the FED can do whatever they please. Some indicators on the inflation side had already gone down, even though a few were up very minor. And the FED left the bias at neutral. What a joke. They did this last time around and now they raised the rates by 1/4 point on both fronts. I really don't know what the markets are cheering about. Both the DOW and the NAZ are now up over 50. I will not complain about this though. gg. I guess we will have a cpl weeks of peace before the pundits will scream for another rate hike next time. Markets are looking good. Msft was up over 5 and most of the techs were up also. Dell got a buy rating from one of the brokerages and Intc got one also. I sure hope things still look good when you get home. Maybe we will make it to 12,000 before I leave on Thursday. gg. Good news did not budge the markets too much lately, earnings etc., so maybe this interest stuff will do the trick. Inflation fears being lowered and all this good talking stuff. Sonny