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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (20271)	9/10/1998 10:42:00 AM
From: Lee	Read Replies (1) \| Respond to of 50167

Hi Jim,..Re: If we focus on those things that will pump up the YEN and soften the recessionary landing in the U.S. we'll have a blueprint for the next six months.. Well we all know what that means, don't we? Fed funds rate to 5.25%? But long rates this morning already got down to 5.216%. I think that the Fed will be responsive to US economic conditions including recent decrease of asset valuation. But it seems difficult to imagine that the Fed can carry this off single-handedly, considering the current global environment. In other words, to risk further expansion in this economy, I would think that they would like to have some sort of very solid commitment from Japan regarding reform and, more importantly, not pulling any tricks like they did yesterday by lowering an already ridiculously low rate in the face of a rising Yen. All IMHO Lee