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

To: Logain Ablar who wrote (32587)	8/25/2000 12:21:56 PM
From: magicslr	Read Replies (1) \| Respond to of 50167

James, Why do you think it'll reopen in the 70's. TIA, Magic

To: Logain Ablar who wrote (32587)	8/25/2000 12:46:45 PM
From: James Strauss	Read Replies (1) \| Respond to of 50167

Good points Tim... I think that last 1/2 point rate hike is just beginning to bite into the economy... We're beginning to see it in weaker retail sales... The leader Walmart has lower than expected comp sales... Walmart executes better than any other retailer... If their numbers are suffering, the whole retailing sector will most likely suffer... This will feed into the consumer confidence and CPI numbers as retailers will be forced to take early markdowns to clear inventories... This will roll back to the manufacturers, trucking companies, suppliers, and their employess etc., etc.,... I think the FED will act sooner rather than later to cut rates if this scenario continues to unfold... Greenspan proved that he can move fast when he cut rates between FED meetings during the Russian crisis... So, 6 to 9 months to a rate cut is a possibility... Jim