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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (5755)	2/25/1999 2:41:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 29970

Another arrogant comment: Thursday February 25, 2:04 pm Eastern Time Fed watches "lofty" US stocks -Phila Fed's Boehne PHILADELPHIA , Feb 25 (Reuters) - Federal Reserve Bank of Philadelphia President Edward Boehne said on Thursday the Fed was alert to the possibility of a sharp market correction in lofty U.S. stock prices and of the impact such event would have on U.S. consumer and business spending. ''Given the heightened awareness of financial market participants to global developments, and considering the lofty heights reached by our own stock markets, it is easy to conceive of such a shock occurring again,'' Boehne told a meeting of financial analysts in Philadelphia. Boehne was referring to the shock suffered by U.S. capital markets last fall in the wake of Russia's debt default. The Fed lowered the federal funds rate three times in response to the financial crisis that was threatening to disrupt the expansion. ''A sharp market correction could suddenly and significantly change consumer and business attitudes,'' the Philadelphia Fed President said. ''But such shocks are not predictable, and the fact that we recognize that our current domestic and foreign environment could spawn such shocks remain simply means that monetary policy must remain alert and flexible.'' Guess he disagrees with Greenspan. Glad to see all our heroes are on the same page. They are all arrogant. That doesn't mean anything unless their arrogance is the "ok" variety, the kind that makes you money and the kind about which you don't complain, the floodgate kind.