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To: jhg_in_kc who wrote (586)	5/15/2001 3:43:44 PM
From: freeus	Respond to of 13815

Everything collapsing quickly...daytraders in today not long term investors. I'm keeping cree though, like the 99 eps ranking and their good cash flow. Freeus

To: jhg_in_kc who wrote (586)	5/15/2001 4:06:40 PM
From: freeus	Read Replies (1) \| Respond to of 13815

Oh well not too impressive...sell off tomorrow? But what today DID show is that when earnings come back good markets will too....people are out there responding, they just arent' convinced anything is positive yet, don't you think? Freeus

To: jhg_in_kc who wrote (586)	5/15/2001 7:56:24 PM
From: solihull	Respond to of 13815

Re: FRB - Release Immediate Date: May 15, 2001 The Federal Open Market Committee at its meeting today decided to lower its target for the federal funds rate by 50 basis points to 4 percent. In a related action, the Board of Governors approved a 50 basis point reduction in the discount rate to 3-1/2 percent. A significant reduction in excess inventories seems well advanced. Consumption and housing expenditures have held up reasonably well, though activity in these areas has flattened recently. Investment in capital equipment, however, has continued to decline. The erosion in current and prospective profitability, in combination with considerable uncertainty about the business outlook, seems likely to hold down capital spending going forward. This potential restraint, together with the possible effects of earlier reductions in equity wealth on consumption and the risk of slower growth abroad, continues to weigh on the economy. With pressures on labor and product markets easing, inflation is expected to remain contained. Although measured productivity growth stalled in the first quarter, the impressive underlying rate of increase that developed in recent years appears to be largely intact, supporting longer-term prospects. The Committee continues to believe that against the background of its long-run goals of price stability and sustainable economic growth and of the information currently available, the risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future. In taking the discount rate action, the Federal Reserve Board approved requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Richmond, Chicago, St. Louis and San Francisco.