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To: Lee who wrote (77304)	11/10/1998 8:06:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

Hi Lee: I hear now that we may not get a rate cut next week,we may have to wait till December probably. Ran in to this bit of news which I thought is interesting. U.S. Economy: Slower Job Growth May Give Fed Room to Cut Rates By Vincent Del Giudice Washington: U.S. companies are adding jobs at a slower pace than earlier this year and that's just the medicine Federal Reserve Chairman Alan Greenspan has been prescribing for the economy. Slower job growth relaxes wage pressure -- keeping inflation at bay -- and that will allow Fed policy-makers to cut interest rates again if they think they need to take that step to calm financial markets, analysts said. ''The consensus outlook for the remainder of the year is for some slowing of growth, but that's not necessarily a bad thing,'' Federal Reserve Bank of Richmond President J. Alfred Broaddus said in Richmond, Virginia, today. ''Some slowing is healthy. It will reduce the risk of inflation pressures.'' In October, the economy added just 116,000 jobs, the second-smallest total in more than a year and about half the monthly average of 229,000 for the first nine months of the year.