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To: Frank E W who wrote (121106)	4/29/1999 8:57:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

Can you say ECI? Splendid. Frank: Well you know the Employment Cost Index came in much better than expected,oh well there goes the 'inflation is heating up' crowd. ======================== INSTANT VIEW - U.S. ECI rose 0.4 percent in Q1 NEW YORK, April 29 (Reuters) - Following are comments from economists after the U.S. Labor Department reported that the Employment Cost Index advanced 0.4 percent in the first quarter of 1999, after a 0.7 percent gain in the fourth quarter of 1998. Economists polled by Reuters had projected, on average, a 0.8 percent increase. SUSAN HERING, CHIEF ECONOMIST, CARR FUTURES: ''These numbers are just splendid. There's absolutely no reason for the Fed to be worried.'' HERING was speaking on Reuters Television.