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To: Frank Pembleton who wrote (93387)	8/10/2001 7:24:51 AM
From: Frank Pembleton	Read Replies (1) \| Respond to of 95453

Brokerage predicts 100 basis point rate cut Bear Stearns: 'The economy is, at best, dead in the water' Rod McQueen Financial Post, with files from news services Continued gloom is causing economists to postpone their predictions for an imminent recovery and demand even deeper interest rate cuts to kickstart activity. New York investment bank Bear Stearns & Co. said yesterday the U.S. Federal Reserve could cut its overnight interest rate target a full percentage point by early next year -- a drop that would mean the central bank would have slashed rates by an unprecedented 3.75 percentage points in a 12-month period. "The economy is, at best, dead in the water," said Brian Wesbury, chief economist at Griffin Kubik Stephens & Thompson in Chicago. He said that stock prices could head for new lows as further grim news unfolds. nationalpost.com