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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: pbull who wrote (39043)	7/15/2001 9:56:21 PM
From: pbull	Respond to of 65232

OK, so maybe no one here cares what McTeer thinks. I believe that's a significant shift from his public position as recently as several months ago. McTeer was one of the more vocal proponents of "new age" or "brave new world" thinking at the Fed, along with Alice Rivlin. Concessions of the type McTeer made today, while likely not significant in terms of monetary policy, denote a shift in emphasis at the Fed, in my opinion. Their priorities are changing, in other words. Perhaps A.G. will further enlighten us with his testimony this week. We shall see. PB