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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Tom Kearney who wrote (18825)	4/15/1998 1:56:00 PM
From: Laker	Read Replies (2) \| Respond to of 70976

You are right about the environment. But apparently several governors circled Greenspan - what - two weeks ago, and he had to fight them off. Another thing, are there no enormous increases in the average cost of new housing and for equities and that do not get reflected in the CPI. The Fed, I think, considers these factors. And there is Greenspan's own measure of the relative value of the market - - which was on the high side two months ago - - before the big advances. I just think there are some cross-currents here beneath the surface. My gains for the year are decent for a good year - - not a great year - - but with a quarter down, I am happy and am moving back into US and quality corporate bonds. From Thestreet.com: "In addition, an article in today's London Evening Standard also has traders nervous. "Sources say Greenspan could barely hold off the inflation hawks at the last Fed policy meeting earlier this month," the article says. "He convinced them to await further data but the case for not raising rates is getting tougher by the day." If the story were isolated traders wouldn't care, Miller Tabak Hirsch strategist Tony Crescenzi said. "But because it seems to reinforce public comments" by Fed governors Edward Kelley, Susan Phillips and Laurence Meyer over the last week, "it makes it more believable."