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To: Investor2 who wrote (14084)	5/15/1999 10:57:00 PM
From: Susan G	Respond to of 99985

I definitely heard that too, and a lack of a mention immediately after the last meeting was noted by the media. You're not dreaming :)

To: Investor2 who wrote (14084)	5/17/1999 4:34:00 PM
From: Wally Mastroly	Respond to of 99985

Re: "the Fed ...and announcing bias, etc...." Also, agree - you were not dreaming: biz.yahoo.com An excerpt: '..Under a long-standing tradition at the Fed, it takes weeks before a change in the Fed's bias is officially known, though it is a constant topic of speculation in financial markets. The decision to speed up the process sometimes was taken by the Fed last December and became known on Feb. 4, when minutes from its Dec. 22 meeting were made public. ''Specifically the (FOMC) would do so on those occasions when it wanted to communicate to the public a major shift in its views about the balance of risks or the likely direction of future policy,'' the Dec. 22 minutes said...'

To: Investor2 who wrote (14084)	5/17/1999 7:02:00 PM
From: bearshark	Read Replies (1) \| Respond to of 99985

I2: Here is the Fed Policy in total. The answer is maybe they will or maybe they won't depending on how they wake up in the morning. Disclosure Policy The members also discussed various issues relating to the timing and manner of releasing information about the Committee's policy decisions. A range of views was expressed, as at earlier meetings, on the desirability of releasing a statement routinely not only after those meetings at which there was a change in the stance of policy but also after meetings where the Committee altered its view of the direction of possible policy actions during the intermeeting period. Members who favored more announcements believed that such disclosure, by providing more information on the Committee's views of the risks in the economic outlook, generally would allow financial market prices to reflect more accurately the likely future stance of monetary policy. However, other members were concerned that such announcements often would provoke market reactions. As a consequence, the Committee would become less willing to change the symmetry in the directive, and a policy of immediate release might therefore have adverse repercussions on the Committee's decision-making. Nonetheless, the members decided to implement the previously stated policy of releasing, on an infrequent basis, an announcement immediately after certain FOMC meetings when the stance of monetary policy remained unchanged. Specifically, the Committee would do so on those occasions when it wanted to communicate to the public a major shift in its views about the balance of risks or the likely direction of future policy. Such announcements would not be made after every change in the symmetry of the directive, but only when it seemed important for the public to be aware of an important shift in the members' views. On the basis of experience with such announcements, the Committee would evaluate later whether further changes in its approach to disclosures would be desirable.