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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Susan G who wrote (17540)	5/15/2002 2:47:42 PM
From: lee kramer	Read Replies (1) \| Respond to of 26752

Susan: Yes...the Fed Gov said "Take the Celtics with the points."

To: Susan G who wrote (17540)	5/15/2002 2:49:20 PM
From: ChrisJP	Respond to of 26752

Can't help you Susan -- I'm one of those "Day Job" type market watchers. lol Chris

To: Susan G who wrote (17540)	5/15/2002 2:50:25 PM
From: backman	Respond to of 26752

Fed's McTeer : Economy Doesn't Warrant Rate Hikes Yet DOW JONES NEWSWIRES NEW YORK -- U.S. economic growth appears to have moderated from the strength seen in the first quarter of this year, but the recovery itself isn't in jeopardy, said Robert McTeer , president of the Federal Reserve Bank of Dallas, on Wednesday. "The statistics have been positive, but not as strong as the months before, so I don't mean to suggest that the recovery is in some sort of jeopardy; but certainly its momentum has diminished," said McTeer . McTeer is a voting member of the Fed's policy-setting Federal Open Market Committee. He was addressing the Dallas Rotary Club. Since there remains "slack" in some portions of the economy, McTeer suggested that the Federal Reserve feels little immediate pressure to raise interest rates. "We have not yet determined that things are so strong, that things are so invevitably going to occur, that we would find it necessary to take back some of (last year's rate) cuts," said McTeer . In part, that's because the Fed has the luxury of low inflation, which is allowing it to keep monetary policy stimulative, he said. "Of course, one reason we've been able to forbear (rate hikes) and keep our inflation-fighting creditials intact, is that we have a pretty good record on inflation," evidenced by several measures of inflation that have remained relatively low, said McTeer . McTeer also mentioned that the continued growth in worker productivity, despite the economic downturn, will allow the economy to snap back more strongly without risking inflation. -By Steven Vames, Dow Jones Newswires; 201-938-2206; steven.vames@dowjones.com Updated May 15, 2002 2:44 p.m. EDT