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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Lee who wrote (3117)	7/20/2001 11:08:23 AM
From: Robert Douglas	Read Replies (2) \| Respond to of 3536

Does ONeil really believe what he is saying, that the tax rebate will do the trick? Everyone, Bush, Greenspan, O'Neil have to pretty much go on faith on this one. But nobody really knows for sure if the tax cut and the Fed easings will keep the economy out of recession. My feeling is that we won't have a recession, but the recovery will be muted and longer in coming than most of the forecasts that I see predict. I certainly don't think there is much chance that the Fed will have to tighten for at least 12, and maybe 18 months. I still believe the dollar needs to come down before manufacturing can make a healthy rebound. I also think that since this lower dollar will necessitate foreign countries picking up the demand burden, that they will need to lower their rates to stimulate this demand.