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To: Amy J who wrote (124167)	1/4/2001 9:00:40 AM
From: GVTucker	Respond to of 186894

Amy, RE: First time "ever". Or, first-time in AG's era? Well, note that it has basically been only in the Greenspan era that the Fed has publicly disclosed a Fed Funds target. Back in the days of yore, everyone on Wall Street actually had to guess at the target. In those days, Thursday afternoons were pretty wild. That was the time that the money supply figures would be released. (Actually, that still is the time, but no one cares now.) Everyone on the Street would pore over the numbers to try and get an indication of exactly what the Fed was doing. In hindsight, it is pretty comical. In practical terms, it is probably a good bet that in the Volcker (sp?) days of the early 80's/late 70's, there were a few ½ point plus moves.