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To: Ahda who wrote (5505)	2/18/1999 12:10:00 AM
From: Ahda	Respond to of 29970

Fed drains reserves via matched-sale purchases NEW YORK, Feb 17 (Reuters) - The Federal Reserve temporarily drained reserves from the banking system on Wednesday via matched-sale purchase agreements, the New York Fed confirmed. Analysts had predicted the Fed would add reserves via overnight system repurchase agreements. Federal funds were trading at 4-3/4 percent, the Fed's target rate, at the time of the operation. Two out of Two Me thinks the fed is worried about inflation me thinks they do not want to have to raise the interest rates me thinks.. maybe Laughing God will assist?