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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: GUSTAVE JAEGER who wrote (530)	8/31/1998 11:29:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 3536

Since the worlwide flight-to-safety will benefit the dollar anyway, Greenspan will have no remorse in easing the interest rates. I agree that the dollar will continue to benefit from a flight to safety aspect. I also suspect Greenspan will eventually cut rates but will take his time. At the moment the economic indicators are showy a very mixed picture. And Greenspan has shown a reluctance in the past to change Fed policy near an election. Also don't overestimate the impact on Russia on the global economy. Russia has little impact trade wise as it is little more than an exporter of raw materials. The real impact of Russia is the psychological impact on the investor community. If the crisis of confidence that has developed leads to further pressure on Asia or South America that will increase the pressure on the Fed. But absent that Russia will not have enough of an economic impact to cause a move on its own. Henry