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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: SGJ who wrote (1700)	9/15/2000 8:55:24 PM
From: Jim Willie CB	Respond to of 65232

a Fed rate easing has been necessary for two months now the bond yield curve has been inverted all summer long the Fed governors are confused now, in my opinion they have caused wreckage in Europe's economy just because they are afraid of too much growth at home I honestly dont believe these Fed governors are properly equipped to manage monetary policy in today's New Economy today I heard that the biggest inflation hawk Fed governor made a public statement, saying he thought we finally have achieved balance in consumer supply and demand... this is important... now the bias is indeed toward easing within the group of governors the US Federal Reserve does pay attention to foreign economies but NOT enough in my opinion I dont recall the last public statements made by Greenspan with focus on foreign conditions a rate easing? not for months the European Central Banks are begging for it now I dont think they will get it until after the US elections until then, I think we have risks not risk of lower earnings risk of lower EXPECTED earnings only risk is for Old Economy corporate earnings multinationals can hedge currency shifts, but they CANNOT hedge for slowdown in foreign economies / Jim