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To: t2 who wrote (18450)	2/13/2001 5:43:06 PM
From: jmanvegas	Respond to of 24042

T2: Wall Street might force his hand by crashing the Naz below its previous lows. They obviously have not liked his 2 previous cuts. They want an aggressive Fed and they want that 50 point cut at least. Of course AG is not going to tip his hand. Unfortunately, the markets will dictate the Fed's moves, not the other way around. The AG led Fed has been following the bond market for the last few years, not leading. It tells me the Fed is losing its power and influence. It used to be don't fight the Fed. The rules are changing. It's a brave new world. jmanvegas

To: t2 who wrote (18450)	2/13/2001 10:24:18 PM
From: bodie	Read Replies (1) \| Respond to of 24042

Hello T2. If you already covered this, I apologize. Was their something specific in his testimony that makes you think he will do an intrameeting rate cut? Based on the following testimony, I am not optimistic about an intrameeting cut: "The apparent weakness so evident in a number of economic indicators ... apparently did not continue in January," he said. "He's trying to do two things in his testimony," said Irwin Kellner, chief economist for CBS.MarketWatch.com and the Weller professor of economics at Hofstra University. "He's trying to bolster consumer confidence and dampen expectations about how much and when rates will go down." cbs.marketwatch.com bodie