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To: Wally Mastroly who wrote (9174)	10/8/1999 4:26:00 PM
From: Kirk ©	Respond to of 15132

BIAS...all the talk makes me chuckle... All BIAS means is "if a few more votes went towards the bias then we would have done what the bias wanted to do to interest rates." New data the next month can change ANY of the votes so it is really just a way to say which direction the vote was leaning if the decision was "to do nothing". Obviously, if they raise rates, then the "Bias" would be "to do nothing. I guess as an EE by schooling, bias is easily understood. If all things remain the same at the next meeting, then the bias would also remain the same. Kirk

To: Wally Mastroly who wrote (9174)	10/8/1999 4:58:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Wally: Perhaps we would all be better off ignoring the bias and looking at the numbers. I think the numbers sucked this week. All these silly economists should get off of the non-farm payroll numbers and focus on the wage component. As you said, it is all about the tight labor market. This is the perfect environment for some wage inflation and the CIBCR does nothing to help the situation. And the market reaction today does nothing but give the Green Man an itchy trigger finger.