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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (2963)	12/6/2000 8:27:42 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Fred selling the morning rally should have been satisfying. beige book review...... Beige Book: the Fed's report on the current economy carries a few warnings of price pressures as well as the economic slowing Greenspan commented on yesterday. The NY Fed compiled the regional reports and highlighted further signs of slowing as cost pressures turned stronger. Higher manufacturing input costs left little effect on prices, however, as the sector was unable to pass them off through price gains. Labor shortages persisted in most areas as signs of job market easing were noted by a number of Fed districts. Despite some reports noting wage growth acceleration overall growth was moderate as widespread reports of increased health benefit costs pushed employment costs higher. Not as clear as some presume regarding the timing of the policy turning ease. While the neutral risk assessment is expected to arrive in two weeks the FOMC may drag its heels on easing given signs of price pressure.