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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Diana who wrote (3701)	4/9/2001 10:30:39 AM
From: John Pitera	Respond to of 33421

That is a very interesting point..... It makes some good intuitive sense. I don't think we see a rate cut this week. and reasons From Bob McTeer why we should expect fewer intermeeting Interest rate actions by the FED, as a general Rule: Dallas Fed president McTeer (non-voter) is being interviewed on CNBC and made the point that intermeeting policy moves are unusual. More important was his point that if intermeeting moves are used too often they are no longer unusual and become expected by the market -- a timing element the Fed does not want to reestablish. McTeer, anyway, would rather err on the side of generosity rather than hold back needed easing as he noted the front-loading concept stated in the most recent FOMC minutes. Bottom line, McTeer stated that if more easing is needed before the May 15 meeting the Fed will react. This as the weekly Board meeting takes place today.