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To: Tony Viola who wrote (98037)	2/2/2000 9:34:00 AM
From: Joseph Pareti	Read Replies (1) \| Respond to of 186894

>what would he do next time if >he doesn't like what he sees in >the inflation indicators? 50 pts today and 50 next time

To: Tony Viola who wrote (98037)	2/2/2000 10:46:00 AM
From: Road Walker	Read Replies (2) \| Respond to of 186894

Tony, RE: "8 inches, boy that's small. Hope they didn't pay too much." My bad joke was that the WHOLE FAB was only eight inches big. Ha Ha, not too funny... RE: "Alan's going for the 25 basis points, right?" That seems to be the consensus. I don't have a clue, a good argument could be made for 1/2 point, or no change at all. AG doesn't like to shock the markets, so 1/4 is probably a good bet. I also wonder how the stock market will react. CSCO going to a new high yesterday was a good sign for the techs. Hope the Fed's announcement doesn't kill the recent (2 day) momentum. John

To: Tony Viola who wrote (98037)	2/2/2000 11:58:00 AM
From: John F. Dowd	Read Replies (2) \| Respond to of 186894

Tony: I hope you and the rest of the world will realize that the stock market going up not only provides a wealth effect but provides high stock prices which allows companies if necessary to issue new stock and raise capital without the burden of debt thus taking the pressure off debt markets. By this companies can add additional capacity at a lower cost of money and thereby produce more widgets at a cheaper cost. More widgets being chased by a congruently growing dollar supply yields no inflation. Companies can also use their stock to buy other companies who are at lower PE's (less efficient) and hence make the purchased assets more efficient. If the last 10 years is a result of people living too high on the hog I a all for it. Let us not have AG wielding his tools in a Draconian manner to stop a good thing because of the "fear" of inflation. Let the market take care of that for nothing cures high prices like high prices. I say hooray for the wealth effect as it diminshes the government effect. JFD