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To: GST who wrote (144813)8/6/2002 12:40:27 PM
From: Gary Walker  Read Replies (1) | Respond to of 164684
 
GS, I don't disagree that a rate cut might have a minimal direct impact on the economy. However, it might prop up investor morale, which would be positive.

The Fed has developed this "come to the rescue" image. They did it in '98 with the "surprise" rate cut. That appears to be a driving force in recent rallies, but it's now priced into the market.


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