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To: NickSE who wrote (43886)	5/28/1999 2:19:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 86076

Mike, today's WSJ says that there will be not Fed Action after Aug. due to Y2K concerns, at least some WS analysts are making those comments, do you think they were quoting me? -vbg- that idea still makes alot of sense to me...I'm curious what Henry the V will say about it. Maybe the Aug meeting will be the rate hike meeting. From today's WSJ In the U.S., some analysts predict that the Fed will adopt a hands-off approach to monetary policy after August to avoid roiling financial markets already spooked by possible Y2K glitches. This has led some analysts to predict that the Fed might choose to preemptively tighten interest rates at the Aug. 24 meeting of its policy-making Federal Open Market Committee, if it appeared that inflation pressures are still lurking at that point. For the rest of the year, they see clear Fed sailing until the dust has settled on Y2K problems.