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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (37761)	11/29/1998 6:57:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

I think there was some degree of pure coincidence to it, but from about march or April on it did look as if the Fed was reining in credit somewhat, and that certainly didn't send the market up. And then with the obvious fact of the rate cuts and the less obvious fact of accelerating growth in monetary aggregates, the market certainly did shoot up. It looked to me as if the monetary changes came first. A year ago the Fed loosened up after the October dip. I think they are getting very skittish.