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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (3328)	4/1/2004 1:21:43 PM
From: mishedlo	Respond to of 116555

Fed's Kohn disputes rationale for quick rate hike By Greg Robb WASHINGTON (CBS.MW) -- There is no solid evidence to back up arguments from some economists that a prompt Federal Reserve rate hike would be a good idea to keep possible harmful economic distortions from developing, said Federal Reserve board governor Donald Kohn. In a speech prepared for delivery to Widener University in Chester, Pa., Kohn said the Fed has tried to make it clear to investors and financial markets that the current 1 percent fed funds rate "is lower than it can be at a sustainable basis" and as the economy moves toward higher levels of employment the funds rate will be raised. "But it does not appear that we are as yet at that point," Kohn said.

To: mishedlo who wrote (3328)	4/1/2004 1:26:50 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Fed's Moskow: Job market improving, but not enough By Rachel Koning CHICAGO (CBS.MW) -- The jobless recovery in the United States remains the biggest "puzzle" for the Federal Reserve, Chicago Fed President Michael Moskow said in prepared remarks. "To be sure, we have seen signs of improvement in labor markets during recent months," he said at the University of Dayton, in Dayton, Ohio. "But the economy needs to create between 100,000 and 150,000 jobs per month just to keep pace with population growth." Only slightly about 20,000 new jobs were created in February. Moskow does not vote on the Fed's rotational interest-rate panel this year. Business spending appears to have increased at a brisk pace so far this year, he said. "And many of our business contacts have told us that they will have to hire soon if strong demand continues."