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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (1213)	2/3/1999 3:08:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 3536

Sorry to respond so late, but it does make it easier to say they won't raise rates ;) It was very hectic today. FWIW I don't think the Fed will be raising rates anytime soon. However I feel we will witness a 'campaign' by Fed officials to talk up their concerns. The purpose of this campaign will be to get the market to move interest rates higher. That way they can accomplish a snugging without having to raise rates directly themselves. BTW keep an eye out for Feb 16. That is the next day I am looking for on the Fed schedule. Greenspan will be speaking to Congress on banking legislation. The Fed is clearly frustrated by its lack of effective tools for managing policy given the evolution of the markets over the last decade. I would not be surprised if the subject of hedge funds was prominently discussed.