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To: Roderick Francey who wrote (16312)	8/21/1998 3:16:00 PM
From: Alex	Respond to of 116823

Fed says talk of emergency meeting "false" WASHINGTON, Aug 21 (Reuters) - The U.S. Federal Reserve said on Friday that rumors circulating in financial markets about an emergency meeting of Fed officials on the deepening crisis in international financial markets were ''false''. ''The rumors are false and there is no foundation,'' central bank spokesman Bob Moore said. Reports of such a meeting had helped to push up the price of U.S. Treasuries, particularly at the short end, traders said. The talk, which included the possibility of a Fed interest rate easing, also surfaced in the Chicago futures market. ''That's obviously helping the market and helping with steepening of the curve and all the rest,'' said Bill Sapoch, director of government and agency sales at BNY Capital Markets Inc.. ''Two-year notes have gone beyond just really a neutral policy, they are actually taking a little bit of an easing into account at this point,'' he added. Fears that economic crises raging in Asia and Russia may spread and drag down emerging markets in Latin America and elsewhere ravaged Wall Street on Friday. The Dow Jones industrials was down around 2.5 percent in midday trading while bond prices raced to new highs. biz.yahoo.com