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To: John Graybill who wrote (127372)	10/4/2001 1:28:22 PM
From: oldirtybastard	Respond to of 436258

They put 3 REIT's into the S&P 500 today fwiw. Nice timing I hope -g-

To: John Graybill who wrote (127372)	10/5/2001 10:47:45 AM
From: JoanP	Respond to of 436258

Looks like the Fed's easing cycle may be ending: Minutes of the Federal Open Market Committee August 21, 2001: "...The members recognized that in light of the lags in the effects of policy, the easing process probably would have to be terminated before available measures of economic activity provided clear evidence of a substantial strengthening trend. In the view of some members, this point might come relatively soon. Beyond the nearer term, members also envisaged the desirability of moving preemptively to offset some of the extra monetary stimulus now in the economy in advance of inflation pressures beginning to build. The members were fully prepared to act on a timely basis, but several emphasized the recognition lags that would be involved in stopping and subsequently beginning to reverse the policy easing..."