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To: GARY P GROBBEL who wrote (816)	3/12/2001 10:29:12 AM
From: opalapril	Respond to of 120405

When it is evident to all the FED intends to cut rates it is folly to wait on some rigid, predetermined schedule, as Greenspan told Congress it prefers to do. Companies with "real time" ordering and inventory adjustment capabilities will simply wait, too, and as each waits the next cuts back, etc. etc. Thus, the snow-balling effect. It's past time for the FED to revise its modus operandi.