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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (32099)	5/10/2000 10:26:00 AM
From: Les H	Respond to of 42523

"On June 30, 1999, the Fed raised the federal funds rate for the first time since early 1997. I was in the radio booth for the announcement as part of Bloomberg's regular money team coverage. Joining us on the line from Chicago was Robert Froehlich, global investment strategist of Kemper Funds Group. It sounded like a big title and big job to me. Imagine my horror when I heard Froehlich, on learning that the Fed shifted to a neutral policy stance for the inter-meeting period, scream that ``the Fed is done for the year.'' Nothing much has changed. Two weeks ago, a Market News survey of stock traders and portfolio managers revealed that eight of nine said the odds did not favor a June rate increase following one in May. The perennially perky Joe Battipaglia, chief investment officer at Gruntal & Company, was quoted as saying, ``We'll get a quarter-point in May and then the Fed will probably be finished.'' " quote.bloomberg.com