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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Peace who wrote (32099)	6/28/2000 1:26:00 PM
From: Peace	Read Replies (1) \| Respond to of 50167

Also the fed did away with bias announcement a while ago. They only release a statement. So I would expect a cautionary statement.

To: Peace who wrote (32099)	6/28/2000 5:31:00 PM
From: Peace	Read Replies (1) \| Respond to of 50167

Here's an excerpt from a Bloomberg article on Fed move. Full article at quote.bloomberg.com Nevertheless, U.S. companies say they're experiencing slower growth. ``People are more fearful,'' said Robert Toll, chairman a chief executive officer of Toll Brothers Inc. of Huntingdon Valley, Pennsylvania, the nation's largest luxury home builder. With visits to Toll's model homes down about 5 percent than a year ago, ``we are slowing down,'' he said. Wachovia Bank Corp., the third-largest bank in the U.S. southeast, said earlier this month that second-quarter earnings would fall below analysts' expectations because a cooling economy is making it harder for some borrowers to keep up loan payments. The warning sparked similar concerns at other U.S. lenders, triggering a sell-off in U.S. financial services companies. General Motors Corp. boosted incentives on several car and truck models after May sales fell 5.7 percent, more than analysts had expected. The GM sales slump was worse than an industrywide decline of 1.9 percent. GM's slide came even though the company had raised its budget for incentives in May by 12 percent over year-earlier levels, according to Morgan Stanley Dean Witter analyst Stephen Girsky. Circuit City Group recently warned investors that first- quarter profit margins would shrink because of slackening demand for appliances and other electronics. And Abercrombie & Fitch Co. said a slowdown in sales of women's clothing will hurt its spring and summer selling season, and some analysts expect the company's sales at stores open at least a year to fall 10 percent to 12 percent this summer. For its back-to-school styles the company, which targets college-age adults, expects to charge lower prices compared with last year. That kind of strategy, if it becomes more common, may give the Fed relief from inflation worries and boost confidence that the economy is back in balance.