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To: ahhaha who wrote (34654)	5/29/1999 5:02:00 PM
From: Ken98	Read Replies (1) \| Respond to of 116766

< When FED has to slow money growth, productivity will suddenly go negative. > When do you think that might be? Based on their recent open market activities that would not be anytime soon. In that regard, why do you think the Fed has been so active recently? I count around 12 coupon passes in the last 2 weeks totaling about $10 billion. If you use a base multiplier of 10 that is one heck of a goose to the economy at a time when they are supposed to be concerned about inflation. The timing and amount of this activity is interesting - it began about the time of the CPI report, reached a peak around the FOMC meeting and occurred most recently last Thurs. and mostly occurred on days that the bond market was down. I am not an economist but that little voice says that this is more important than meets the eye. Would appreciate your thoughts. Regards, Ken.