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To: Gabriela Neri who wrote (5917)	1/14/1998 11:13:00 PM
From: Abner Hosmer	Read Replies (1) \| Respond to of 116764

Gabriela - Thank you for your analyses. Broaddus seems to agree with you that inflationary forces will predominate in '98. Haven't read of anyone at the Fed yet who believes Asia will have a large effect on growth. Broaddus has apparently already voted to tighten, but was overruled. I agree that the Greenspan Fed will not raise rates in the face of this crises, but I don't see any way that folks are going to get the rate cut some of them appear to be counting on. Greenspan has always held that it's important to nip inflationary forces in the bud before the actual onset. Think he's going to be behind the curve on this one. Tom