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To: Amy J who wrote (124142)	1/3/2001 10:24:11 PM
From: Diamond Jim	Read Replies (1) \| Respond to of 186894

"When was the last time he lowered rates by .5 BP?" Wasn't it about 2 years ago, during market hours, same response as this time. I could be wrong but I don't think 1/4 point would have the same effect and I do remember it shooting up. jim

To: Amy J who wrote (124142)	1/4/2001 8:06:42 AM
From: GVTucker	Read Replies (1) \| Respond to of 186894

Amy, RE: When was the last time he lowered rates by .5 BP? July '92, from 3.75% to 3.25%. In Dec '91 he lowered rates from 4.75% to 4%, the largest one time drop of the Greenspan era. Note that this ½ point drop is in between meetings, which has added significance. Since the Fed explicitly changed its policy toward inter-meeting rate changes in '91, this is only about the third or fourth time that the Fed has taken the route of an inter-meeting rate cut, and the first time for a inter-meeting cut (or increase for that matter)of this magnitude.