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To: Lee who wrote (123144)	5/7/1999 1:26:00 PM
From: Mohan Marette	Respond to of 176388

<--OT-->Lee: May be that is why the Central bankers are becoming irrelevant you think,in spite of their apparent clout to move the markets.<g> PS:The article also said-"A Chicago Fed publication recently cited a forecast for the creation of two million U.S. jobs in excess of the U.S. labor force by 2006." Well,what we gonna do??? Hummm.. Can polygamy help solve this problem I wonder?I better do a study on that.<vbg>

To: Lee who wrote (123144)	5/11/1999 2:02:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 176388

Dow 12000 by year end & No need to raise interest rate Wayne Angel. Lee: Get ready to ruummmmmmmmmmbbbbbllllleee.<g> Get a load of this, Wayne Angel says no need for further interest rate cuts and Dow could hit 12000. Oh boy,I better get some shut-eye before the action starts. See what he says about long bond,Wane Angel a comedian? Who knew. ================= Tuesday May 11, 12:27 am Eastern Time INTERVIEW-No need for Fed rate rise--Ex-Fed Angell TOKYO, May 11 (Reuters) - Former Federal Reserve governor Wayne Angell said on Tuesday there was no need for the Fed to raise interest rates to fend off potential inflation. In an interview with Reuters Television, Angell, chief economist and senior managing director of Bear Stearns, said the U.S. economy could maintain steady growth for years to come and that the Dow Jones Industrial Average could hit 12,000 by the end of the year. Asked if U.S. Treasury bond market concerns about a possible Fed tightening meant a rate increase was needed, Angell said: ''Oh no, it won't be needed at all, and I just love it that the bond market is worried because now we can buy bonds at a lower price than we could otherwise.'' He did not specify, however, how long the U.S. economy could continue without the need for a credit tightening. Asked what he would do for monetary policy, Angell said: ''The Fed is doing a superb job and...I would be recommending a 4.75 percent Federal funds rate. It looks just right to me.'' Angell expected growth to remain somewhat steady near four percent. Growth in the second and third quarter will see a little drag from higher energy prices, but that will likely be offset by a pickup from reduced trade drag seen in the first quarter, he said. On investment, Angell said while the short-term outlook for Japanese equities remained uncertain, he ''liked Japanese investment for the longer term.'' But as international investors had to consider currency risk, Angell suggested the yen should slide lower against the recent 120 to the dollar. U.S. Treasuries were ''good buys'' now, he said, adding that he would recommend investors should not be so heavily weighted in equities as his own portfolio, of which 85 percent was comprised of equities and 15 percent of cash and fixed-income instruments. Angell said Japan needed to end deflation to attract investment, which would require more yen liquidity and thus lower the yen versus the dollar. He said: ''If I were the BOJ (Bank of Japan), I would think 140 yen to the dollar would be more appropriate than 120.'' biz.yahoo.com