To: westpacific who wrote (78459 ) 3/10/2001 11:17:00 PM From: Zeev Hed Read Replies (1) | Respond to West, the first Fed cur was unexpected, and thus the explosion justified, the second cut was the best known secret in America (thus, my get out no later than 2:15 PM), the third one is a different story, it is well expected, and wrongfully, craved for by the bulls, but it comes more than 2.5 months after the first change in direction (actually the "stance" change occurred December 19th), thus one would expect that some of the economic impact of the easing should be no more than 1 or 2 Q away, that is about the anticipation period of the market. The surprise might be, that the fed's this time might be pushing a string (at least, that what I think that the talking head are going to discuss by mid -April as the earning reports come in ugly). If you look at the economic numbers, however, we really are not in, and IMTO, not likely to get in, a recession. That means, that the fed's activities were a little too panicky. We'll pay the piper on that next year, when the fed's might be forced to prematurely reign in, what by then might be (perceived as) a recovery.
