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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: red jinn who wrote (16832)	9/6/1998 3:56:00 PM
From: Joseph G.	Read Replies (1) \| Respond to of 77400

No, he said that in view of trouble in real economy, here and abroad, the tilt towards preemptive discount rate increase seems to be not warranted at present. He did not say anything about a rate cut. He said "stable policy" for now. bog.frb.fed.us It is his statutory duty to restrain stock market speculation ["to maintain stable currency"]; he would be mad, and a criminal to encourage it. Therefore, if the rate were to be indeed cut, it would be interpreted by the big players as a signal that he thinks that the real economy is screwed up well beyond what is painted in the media, and the market will tank ...