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To: Sonny McWilliams who wrote (24275)	8/24/1999 2:44:00 PM
From: Gerald Walls	Read Replies (1) \| Respond to of 27012

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. From TheStreet.Com: thestreet.com Fed Hikes Rates 25 Basis Points, Maintains Neutral Bias By David A. Gaffen Staff Reporter 8/24/99 2:14 PM ET ... It had been the Fed's practice to return to neutral following a change in interest rates, but prior to this year, the Fed did not announce decisions on its bias. So in the first test of the new open policy, the markets took the adoption of a neutral bias to mean the Fed was possibly done hiking rates despite the harsh language contained in the Fed's statement, and both stocks and bonds rallied sharply. Now that the market knows its history, a similar euphoric reaction isn't expected.

To: Sonny McWilliams who wrote (24275)	8/24/1999 5:24:00 PM
From: Frank Ellis Morris	Read Replies (1) \| Respond to of 27012

>>The FED also raised the discount rate by 1/4.<< Good Afternoon Sonny, I was surprised by the raising of the discount rate and assuming a neutral bias is a bunch of crap if I ever heard it. we are lucky we did not get knocked on our butts big time. Now you see why I have been so pissed off at the Fed and their monopolistic tyrannical crap for so long but this is the kind of Democracy we have. About Microsoft I wonder what would happen to the stock if they should win the Antitrust case against the DOJ? Probably 200 within a month?? What is your feeling about AOL over the next couple of months and how does today's action by the fed affect their company going forward?? What impact is Microsoft likely to have on AOL? Best Wishes Frank