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To: JRI who wrote (143542)	10/1/1999 2:22:00 PM
From: Lee	Read Replies (1) \| Respond to of 176387

Hi John,..Re:.OT Looks like the Fed is coming around to the 'growth is good' scenario. <g> N.Y. Fed chief - 4 pct GDP growth sustainable now biz.yahoo.com ''As of this moment, it would appear that you can grow the American economy at essentially 4 percent per year and have that growth be sustainable,'' McDonough said. He described U.S. price performance as ''remarkably good'' and said the U.S. had achieved price stability. Also, not sure why the market is so nervous since the strong NAPM bodes very well for future earnings and we haven't heard a peep out of the fed prior to this meeting 'telegraphing' probable actions as they did prior to the June and August meetings. <g> The prices paid component is worrisome though but the fed has stated that 'due to uncertainty about the gains productivity contributions' they're more cautious about jacking up rates pre-emptively. We hope! <g> Anyway, who needs Fed speak when we have earthquakes and Niles speak? Cheers, Lee