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To: oldirtybastard who wrote (63880)	2/1/2001 10:53:49 AM
From: accountclosed	Read Replies (2) \| Respond to of 436258

in the volker era, the fed controlled money supply. in the greenspan era, the fed controls the fed funds rate. wouldn't one expect liquidity to be required to facilitate the 50 basis point reduction in fed funds announced yesterday?

To: oldirtybastard who wrote (63880)	2/1/2001 11:12:12 AM
From: John Madarasz	Read Replies (1) \| Respond to of 436258

app.ny.frb.org Temporary Open Market Operations: 01/30/2001 (Enter Market Operation): O/N Fixed RP Temporary Operations Statistics: Treasury Collateral Operation Agency Collateral Operation Mortgage-Backed Collateral Operation Weighted Average Rate 5.884 5.931 NA Stop Out Rate (Lowest Rate Accepted) 5.860 5.920 NA Highest Rate Submitted 5.900 5.940 5.920 Lowest Rate Submitted 5.820 5.860 5.870 Total Propostions Submitted (In $Bil.) 5.850 3.880 0.750 Total Propostions Accepted (In $Bil.) 4.525 1.235 0.000 Total Money Value of Operation 5.76