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To: Jay8088 who wrote (4288)	10/15/1998 4:07:00 PM
From: waverider	Read Replies (1) \| Respond to of 14427

And you thought an hour ago was scary. Right on cue the market rallied big time due to a Fed cut. If this plays out like we have discussed, this rally will be short lived. Check out the LAST sentence below. Once the street realizes this cut is being made because of major, underlying problems this knee jerk reaction will be the last bull gasp. Let us prey! It will be natural selection at its best. <H> ---------------------- ROBERT BARR, SENIOR ECONOMIST, FANNIE MAE: "We were thinking a fed funds cut was due in November. Certainly, a number of indicators suggested the Fed Funds rate was too high. "It signals there is perhaps some weakness in the economy the Fed is trying to combat. ''It is possible the markets could take suddeness of the Fed move with a raised eyebrow suggesting there is something down the road the Fed sees that they don't see quite yet.''