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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (2126)	3/6/2001 3:28:08 PM
From: stockman_scott	Respond to of 52237

McTeer: Fed Focus on Avoiding Recession Tuesday March 6, 2:49 pm Eastern Time <<IRVING, Texas (Reuters) - Federal Reserve Bank of Dallas President Robert McTeer said on Tuesday that ``terrible'' recent inflation data would not distract the Federal Reserve from its current focus on avoiding an economic recession. The U.S. Producer Price Index (PPI) spiked 1.1 percent in January, while Consumer Price Index (CPI) jumped 0.6 percent in that month. ``We just had a terrible, terrible PPI report that was followed by almost as bad a CPI report and normally that would be enough to make me put on my hawkish feathers and say strong things,'' said McTeer, a non-voting member of the Federal Reserve's interest rate setting Open Market Committee. ``Right now, I'm not going to pay any attention to that. I'm going to worry about avoiding this recession, and we can get back to inflation later,'' he said. The Fed slashed its key overnight bank lending rate twice in January, on each occasion by half a percentage point, taking the rate down to 5.50 percent. The Fed is widely expected to cut rates by another half percentage point when its rate setting committee next meets on March 20. The Dallas Fed president said President Bush's $1.6 trillion tax cut plan, before Congress at the moment, would not have to be offset by Fed rate increases. The Bush plan would put money back into Americans' pockets and could therefore act as an economic stimulant.>> Best Regards, Scott BTW, DELL is having a POWERFUL rally...many of the leading infrastructure stocks are starting to bounce back too...Lets hope this Naz rally has some follow-through...=)