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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: UnBelievable who wrote (71577)	2/25/2001 6:25:05 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

sounds like we've found the secret to perpetual motion... i guess we can never go down again LOL

To: UnBelievable who wrote (71577)	2/25/2001 7:17:11 PM
From: patron_anejo_por_favor	Respond to of 436258

BTW, John Berry of the Washington Post (who is also known as "the Mouthpiece of the Fed") says no emergency rate cut: washingtonpost.com The recent plunge in consumer confidence and stock prices has some analysts suggesting the Federal Reserve might not wait until its next policymaking session March 20 to cut interest rates by another 50 basis points. It cut rates that amount in a between-meetings move Jan. 3, and then again at a meeting Jan. 31. The economy is still at serious risk, but there are some positive signs as well, such as a very rapid reduction in business inventories and a healthy housing market. The Fed would act in response to a clear new threat to economic growth; absent such a threat, however, officials much prefer to change their interest rate target only at meetings of the Federal Open Market Committee. That is a more orderly process that allows investors to anticipate what the Fed is likely to do -- and when they are likely to do it. That thinking doesn't rule out a move, but with only three weeks to the next meeting, it makes one unlikely. Perhaps Fed Chairman Alan Greenspan will provide some clues when he testifies before the House Financial Services Committee on Wednesday. Tomorrow, Treasury will sell $10 billion each in three- and six-month bills, followed Tuesday by the last planned auction of $10 billion in one-year bills. In when-issued trading Friday, the bills yielded 4.88 percent, 4.72 percent and 4.49 percent, respectively.