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To: GraceZ who wrote (234194)	4/7/2003 9:04:14 PM
From: UnBelievable	Read Replies (2) \| Respond to of 436258

The Market For Money and The Stock Market Are Not Separate So it is your belief that the Fed is indifferent with regards to stock prices.

To: GraceZ who wrote (234194)	4/7/2003 9:14:54 PM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

Gathering Information, Preparing to Act At the New York Fed's Trading Desk, the staff starts each workday by gathering information about the market's activities from a number of sources. The Fed's traders discuss with the primary dealers how the day might unfold in the securities market and how the dealers' task of financing their securities positions is progressing. The Trading Desk staff also talks with the large money center banks about their reserve needs and the banks' plans for meeting them. That plan is reviewed with a Reserve Bank president currently serving as a voting member of the FOMC during a conference call held each morning. Board staff sends a summary of this discussion to members of the FOMC later in the day, allowing the FOMC to monitor closely the Trading Desk's implementation of the Committee's directive. Conditions in financial markets, including domestic securities and money markets and foreign exchange markets, also are reviewed each morning. newyorkfed.org