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To: fut_trade who wrote (43085)1/4/2001 8:04:01 AM
From: Patrick Slevin  Respond to of 44573
 
Yeah, I do not know why they do that.

Why didn't they just lower rates at the last FOMC meeting instead of hauling out a big surprise?

Last time they did that the following meeting (on November 17th, 1998) they cut another quarter. So, perhaps they wanted to chop now instead of chopping 0.75 next time.

Just speculation, of course. We shall probably never know, unless it is spelled out in the minutes.