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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (72684)	3/19/2001 12:41:35 AM
From: George Martin	Read Replies (3) \| Respond to of 99985

<<As you know, not all FED activity is reflected in fed funds rate or discount rates. He has been pumping an awful lot of liquidity into the open market activities. Perhaps Tuesday will drop the other shoe.>> Good point -- true they have been doing that. I believe the tide of public and political opinion has really escalated -- several U.S. Senators outspoken today on talk shows about need for interest rate cuts -- 2 insisting 3/4 point needed. This outcry is coming from Dems and Repubs alike. Defenders are fewer and fewer -- which was not the case even to January. I don't recall anything quite like this before. He likes to present himself as 'above it all' but he is approaching thin ice. Another 6 weeks like the last 6 week in the equity markets, and you will some calls for 'bye-bye' time to retire.